12 March 2012
sir, Plz help me in the below mentioned situation- An assessee had an house which was constucted as under- plot purchased on dt-10.08.2004 150000 construction of I st Floor dt 20.12.2007 at Rs.125000 New construction II nd floor dt. 04.06.2009 at 200000 Complete above house sold for Rs. 1000000.00 on dt. 02.02.2011 New House Purchsed 01.03.2011 for Rs. 1200000.00 Please tell me whether the gain arising in such a situation is LTCG or STCG?
CAclubindia
