Capital gain

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kunal (Querist)
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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

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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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

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kunal

kunal (Querist)
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02 March 2013 28-02-2012

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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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

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