18 October 2010
My client had purchased a property under construction 4 years back and paid stamp duty and registration charges also on same date ie 4 yrs back.He got possession 6 month before only and now he want to sale the property so whether it will be treated as short term or long term gain? which date need to be considered whether date of payment of stamp duty and registration or date of possession ??
18 October 2010
Date of purchase is important tyo calculate capital gain, not date of possession. Without possession also, anyone can sell their property. Since 3 years is over in your case, then it amounts LTCG
CAclubindia
