Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2011
Dear sir,
The house was booked in may 2007. The possession was received in jan 2011. the flat is sold in august2011. Is it longterm? If not then plz suggest how to save tax on STCG on sale of flat.
Thank you
The house was booked in may 2007. The possession was received in jan 2011. the flat is sold in august2011. Is it longterm? If not then plz suggest how to save tax on STCG on sale of flat.
Thank you
05 September 2011
Since the title to property in house is transferred to you on the date of possession i.e. Jan'11 and sale was made in Aug'11 before the time period eligible for LTCG, it is STCG.
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2011
Thank you sir.
Can i get any deduction for STCG?
Can i get any deduction for STCG?
03 October 2021
If the registry of agreement was done in 2007, then you can consider it as LTCG.
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