Dear expert,
If a residential house property purchased in October'2018, will it be treated a long term capital asset? If assessee sell this property in 2021-2022, can he apply CII? What is CII for FY 2021-2022?
Kamal Verma (Financial advisor) (579 Points)
08 April 2021Dear expert,
If a residential house property purchased in October'2018, will it be treated a long term capital asset? If assessee sell this property in 2021-2022, can he apply CII? What is CII for FY 2021-2022?
prasad Nilugal
(3914 Points)
Replied 08 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 08 April 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 08 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 08 April 2021
Yes if property is sold on October, 2021 LTCG will arise
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 09 April 2021
24 months will be over by October 2020 (not 2021)
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 09 April 2021
Please share the notification regarding the reduction in time from 36 months to 24 months
prasad Nilugal
(3914 Points)
Replied 09 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 11 April 2021
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