I had purchased 3 plots in Bhiwadi city in the year 25th Dec 2008. and at that time just 1.50 lacs were paid as consideration to the seller and remaining instalments out of the total cost of plot of Rs 9 Lacs each were required to be paid directly to the builder., These plots were originally booked by someone else and in 2008 I purchsed them got it transferred in my name. These plots were transferred in my name in the Company's record, but Registry work is yet to be done,as the development work is still going on. I paid the installments as & when demanded by the bilder and the last installment was paid on 20th sept 2011. Now the company has offered me the possession. and very soon it will be registered in my name. If I sell one of these plots now at a market price of 13 lacs, will it attract the the Capital Gain? short term or long term? Basically my query is wether Capital Gain is calculated on the basis of Registeration date of property or from the date when it got transferred in my name and do this have any concern if payments were made in installments?
CAclubindia
