Capital gain
This query is : Resolved
02 March 2013
sir if mr. A purchased residential house on 11-4-2009 for rs 50 lakhs and sold the same on 28-02-2010 1.80 crore
sale deed is registered on 28-02-2012..
he received rs 90 lakkh on 28-02-2012(f/y-11-12) and 90 lakh on 15-04-2012(f/y 12-13)
now sir please tell whether the whole capital gain is taxable in f/y 2011-12? or half in 11-12 AND HALF IN 12-13??
THANKS IN ADVANCE
sale deed is registered on 28-02-2012..
he received rs 90 lakkh on 28-02-2012(f/y-11-12) and 90 lakh on 15-04-2012(f/y 12-13)
now sir please tell whether the whole capital gain is taxable in f/y 2011-12? or half in 11-12 AND HALF IN 12-13??
THANKS IN ADVANCE
02 March 2013
Please clarify in the second line of your question above is it 28-02-2010 or 28-02-2012.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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02 March 2013
Then your gain is Short term capital gain. At the time of agreement through writing or oral to sale arises capital gain or loss and taxable for such year irrespective amount of sales consideration receipt.
So in your case your capital gain arises on 28-2-2012 and the transfer taken place with in 3 years from the date of purchase so it is short term capital gain.
OM SAI SRI SAI JAI JAI SAI
So in your case your capital gain arises on 28-2-2012 and the transfer taken place with in 3 years from the date of purchase so it is short term capital gain.
OM SAI SRI SAI JAI JAI SAI
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