Short term capital gain

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Punit Jain (Querist)
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18 April 2013 I purchased a flat under the construction linked plan in 2008. the flt got registered on 30th april 2012 @ 36 L and I paid stamp duty of around 1.80 L. I sold the flat on 10th July 2012 @ 38.50 L.

Please advise if this will be treated as Short term or Long term capital gain and also confirm the rate of taxation.

Thank you

Alka

CA Ankit Oberoi

CA Ankit Oberoi (Expert)
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18 April 2013 it will be a short term capital loss, as the duration of holding the capital asset exceeds more than 36 months.

Computation of Capital Loss
Consideration:- rs.3850000
(-)Indexed cost
3600000*852/582 rs.5270103

LTCL rs.1420103