Capital gain
This query is : Resolved
22 March 2013
sir please tell
mr.A received allotment letter of flat from a builder on 15th june,2006 under construction link payment scheme and got a physical possession on 15th march,2012
then mr.A sold the above flat on 15th may,2012
sir please tell the nature of above gain ??
(short term or long term)
sir it is long term,also give me some case laws of punjab & haryana high court
mr.A received allotment letter of flat from a builder on 15th june,2006 under construction link payment scheme and got a physical possession on 15th march,2012
then mr.A sold the above flat on 15th may,2012
sir please tell the nature of above gain ??
(short term or long term)
sir it is long term,also give me some case laws of punjab & haryana high court
Soumitra Basu
(Expert)
23 March 2013
It is short term capital gain since before completion and physical possession you can not acquire any property.
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