05 November 2015
A person sold its residential house which is transfered to him 2 years back through his fathers WILL. and his father acquired it 5 years back. now i want to know whether it is STCG or a LTCG. PLs reply soon.
05 November 2015
It will be considered as Long Term Capital Gains only. For the purpose of LTCG or STCG the date of acquisition of the previous owner needs to be considered. For the Purpose of computing the indexation alone the date of will is important.
For constant updates https://www.facebook.com/missingentry/?ref=bookmarks
CAclubindia
