Immovable property
This query is : Resolved
Quick Summary
19 July 2021
Sale of Immovable property in 2021-
Purchase Immovable property in 2020.
is there capital tax liable for 2021.
Capital gain tax period is 1 or 2 year.
Pl. confirm the period relaxation
Purchase Immovable property in 2020.
is there capital tax liable for 2021.
Capital gain tax period is 1 or 2 year.
Pl. confirm the period relaxation
CA Rashmi Gandhi
(Expert)
20 July 2021
Please provide date of purchase and sale.
23 September 2021
For long term capital gain, in case of immovable property, the holding period is 2 years or more. Otherwise, it will be short term. In your case it will be short term gain.
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