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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 September 2011 Dear sir,

The house was booked in may 2007. The possession was received in jan 2011. the flat is sold in august2011. Is it longterm? If not then plz suggest how to save tax on STCG on sale of flat.

Thank you
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Jitender

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Jitender (Expert)
05 September 2011 this is short term capital gains.
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CMA Ashutosh Kumar Gupta

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CMA Ashutosh Kumar Gupta (Expert)
05 September 2011 Since the title to property in house is transferred to you on the date of possession i.e. Jan'11 and sale was made in Aug'11 before the time period eligible for LTCG, it is STCG.
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 September 2011 Thank you sir.

Can i get any deduction for STCG?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 October 2021 If the registry of agreement was done in 2007, then you can consider it as LTCG.

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