Nature of Gain whether short Term or Long Term

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Piyush (Querist)
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15 July 2022 Assesssee has entered into an agreement to buy a flat in 2017. though registration was done in 2020. now, same flat is sold in 2021, whether the same will be short Term or Long term in Nature ?

Dhirajlal Rambhia online

Dhirajlal Rambhia online

(Expert)
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15 July 2022 When was possession received?
Whether the agreement of 2017 was registered?

Piyush

Piyush (Querist)
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15 July 2022 Agreement was made on Rs 500 stamp paper in 2017.
Proper registration was done in 2020, stamp duty also paid in 2020.

Assessee got the possession in 2017 and had given the flat on rent. Rental income was also shown in ITR in all years

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Dhirajlal Rambhia online

Dhirajlal Rambhia online

(Expert)
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15 July 2022 The gain will be long term.

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