Please Help: Capital Gain
Posted Date : 02-Jul-2011 , 02:47:47 pm | Posted By: CA VIPIN GARG
Category :
Income Tax | Answers :
3|
Comments :
0| Hits: 426
|
|
My question is :-
A building contractor purchases a plot from the person and construct the building on that and then finally one floor of the same building has sold to the same person from whom he purchases the vacant plot. My question is how the capital gain is going to be calculated in that case and is the exemptions of sec 54 is available.......
|
 |
|
|
Answers:
|
 Answer by: CA VIKAS JAIN |
| firstly you have forget to mention about the period of holding the property by such contractor. however if the conditions specifying in sec 54 are fulfilled then exemtion can be availed.
|
| Answer by: CA ANKUR KAPIL |
| You can take exemption if it is LTCG.you have to divide the cost on proportionate basis.
|
| Answer by: Vikash Kumar Jha |
| Go with expert advice.
|
|
|
|
|
|
|
