Capital gain
This query is : Resolved
28 October 2017
I booked a builder flat in June 2010 and was given an allotment letter in September 2010 along with a flat number. I paid up 90% of the amount under down payment plan in October 2010. The possession letter was given on October 2016 and the Registration of the sub lease deed was done in October 2016.
If I sell off the flat in October 2017, will I get the benefit of Long Term Capital Gain.
Amit
If I sell off the flat in October 2017, will I get the benefit of Long Term Capital Gain.
Amit
28 October 2017
what you sale is very important. If you are able to sell the allotment letter which you received in Sept 2010, then it will be long term capital gain.
28 October 2017
The allotment letter is on the stamp paper and jointly signed by the Builder's representative and me. Secondly, the payment was effected 95% under down payment plan in by October 2010. The final installment of 5% which was to be paid at the time of possession was paid in June 2015 and the maintenance agreement and the allotment of parking space ( & number) was given in June 2015. The physical possession of the flat was taken by me in October 2016.
The allotment letter is on the stamp paper and jointly signed by the Builder's representative and me. Secondly, the payment was effected 95% under down payment plan in by October 2010. The final installment of 5% which was to be paid at the time of possession was paid in June 2015 and the maintenance agreement and the allotment of parking space ( & number) was given in June 2015. The physical possession of the flat was taken by me in October 2016.
28 October 2017
I repeat..... what you sale is important.
If you are able to sell the allotment letter, then the capital gain would be long term....
If you sell the flat, the gain would be short term.....
Take the call as per your convenience.
If you are able to sell the allotment letter, then the capital gain would be long term....
If you sell the flat, the gain would be short term.....
Take the call as per your convenience.
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