03 October 2013
A House Property was booked by giving a token payment of Rs 100000/-to a promoter in December 2008 by provisional allotment of house property thereafter 2nd installment of Rs 1000000/-was given in December 2009 and thereafter full & final Payment of Rs 1500000/- was paid on December 2011 and registration of property done.In December 2013 the property was sold for Rs 5000000/- My Query is Whether Gain from Property is Long Term or Short term.Indexation will be taken from which period?
03 October 2013
If possession has taken before registration and payment has been made then that date will be count otherwise registration date will be considered as a date of acquisition.
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