Capital gain consideration
This query is : Resolved
17 November 2024
I booked a villa in March 2022 from a builder and secured a home loan in March 2022 based on the agreement. As per the agreement all installment of payments was made on time .The villa was registered in July 2024 after completion of construction . Now, I am selling the villa in November 2024. What will be the applicable capital gains tax—long-term or short-term?
17 November 2024
Whether the agreement was registered in March 2022?
18 November 2024
Agreement done between both parties on 500 rs stamp paper only.
18 November 2024
Even it be considered as allotment, the time period for 'rights acquired in an asset' should be 24 months (if sold after 23.07.2024) to be consider it as Long Term holding.. So it will be Long term capital gain.
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