Capital gains
This query is : Resolved
07 October 2010
My father has gifted his flat to me and the same is duly registered as gift deed two weeks ago.
I have planned to purchase a bigger apartment in the same locality.
Will i be subject to short term capital gain tax?
Please advise.
best regards,
Vishwas
I have planned to purchase a bigger apartment in the same locality.
Will i be subject to short term capital gain tax?
Please advise.
best regards,
Vishwas
07 October 2010
No please refger sec 49 clause 2 of income tax act your period of holding will be including the period of your father.
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