13 October 2009
I purchased a new property in Jan-2006, Registration done in June 2006 and got possession in Jan 2009. If I sell it now in Oct 2009, with approx 20 Lakhs gain, and invest in new property, do I need to pay LTCG/STCG tax? Thanks
15 October 2009
There will be LTCG as holding period is more than 36 months that is counted from date of registration or date of possession which ever is earlier.
CAclubindia
