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CAPITAL GAIN

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(Querist)
14 July 2010 Ram enter in to an agreement for buying a flat with Builder in Nov,2006 and accordingly pay 90% of purchase conderation within two month & bal in March,2008 at the time possession.

Now he want to sale this flat in July,2010.
Whether the profits be Long term or Short term ?
Please clarify and provide some case laws in support, if any.
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DR GAURAV GUPTA FCA, FCS, LL.B

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DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
14 July 2010 short term
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
14 July 2010 from the agreement date if yo have completed the 3 years then it will be long term
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CA Shiv

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CA Shiv (Expert)
14 July 2010 Well i think its is alongterm.. date of purchase will be 2006 only and not 2008.
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