Capital Gain
This query is : Resolved
22 November 2010
my relative has purchased a property in noida in (2004-2005) of rs. 25,00,000/- on the basis of agreement to sell but he has register by noida authority on dt 07/09/2007 (2007-2008) the same property he had sell on 03/06/2010 of rs. 42,00,000/-. he have a procession of this property since 2004-05 and he have earned rental income on this propety ahd also shows as income in his return of income , pls advise this is short term capital gian or long term capital gian.
22 November 2010
it will be treated as long term capital gain.here possession is important.and period will be considered from the date of poss.
23 November 2010
Agree with Sanat Pyne
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