Capital gain
This query is : Resolved
28 June 2013
I HAVE A FLAT IN JOINT NAME WITH MY WIFE AND SECOND IS MY NAME WHICH HAS BEEN BOOKED IN 2007 AND POSSESSION AND REGISTRY HAS BEEN DONE ON 2013. NOW I WANT TO SALE IT ON 20 LAC AND PURCHASE PRICE OF RS 7 LAC. WILL I GET THE BENEFIT OF LONG TERM FROM BOOKING DATE OR THE INCOME WILL BE CALCULATE AS USUAL ?
28 June 2013
Since your Assets is treated as Short term capital asset, you will not get benefit of LTCG.
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