Calculation of period of holding for capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 December 2013
Assessee had purchased Residential flat in 1980 and he entered into redevelopment contract in 2006 however contract was registed in 2011 . Now the said assessee wants to sale the flat in 2014 .
My query is that whether gain on sale of this flat will be considered as Long Term Capital gain or Short Capital gain ?
My query is that whether gain on sale of this flat will be considered as Long Term Capital gain or Short Capital gain ?
13 December 2013
when name is officially transferred then its deemed to be transfer of capital asset as per income tax act.
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