Stcg on sale of flat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2011
which purchase date have to be considered for calculation of STCG/LTCG:
1. Registration date while under construction
or
2. Possession date on completion of Construction.
any other if any... please specify with reasons and case law, if any...
1. Registration date while under construction
or
2. Possession date on completion of Construction.
any other if any... please specify with reasons and case law, if any...
14 December 2011
The criteria to distinguish between Short term & long term is "Asset held".
In my opinion the time of holding of asset starts from Registing the property in your name.
In my opinion the time of holding of asset starts from Registing the property in your name.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2011
means if i purchase an underconstruction flat on 1/4/2007 and register it on same day. Construction gets completed on 31/3/2009 and i get possession on same day. And now if i sell it on 1/4/2010, will it be STCG or LTCG??? please give me some case laws reference...
18 December 2011
IT IS LTCG. AS RIGHT IN THE CAPITAL ASSETS WAS ACQUIRED ON 1.4.2007. HOWEVER THE BETTER RIGHT WAS ACQUIRED ON 31.3.2009.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
