Capital gain tax on sale of property
This query is : Resolved
06 September 2012
I am a PIO based in London. I booked an under-construction flat in Mumbai in 2007 (allotment letter signed in October 2007). I have done registration in August 2012 and haven't taken the possession. Now, if I want to sell it before taking possession, will it fall under Short Term or Long Term Capital Gain? Plz clarify.
06 September 2012
Neha, there are two conflicting opinions on whether to treat the holding period from the date of agreement or the date of registration.
It is a very long concept to be discussed here.. I'd suggest that you contact a tax professional and get the things cleared.
It is a very long concept to be discussed here.. I'd suggest that you contact a tax professional and get the things cleared.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Applicability of Ind As to associate of associate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
