Capital gain
This query is : Resolved
25 September 2014
A LAND WAS PURCHASED BY REGISTERED TITLE DEED EXECUTED ON 01/01/10. FOR SALE AN REGISTERED AGREEMENT WAS EXECUTED ON 01/01/12 I.E. AFTER 2 YRS & 11 MONTHS IN WHICH 90% SALES PRICE RECEIVED AND POSSESSION HANDED OVER. ON 01/02/13 I.E. AFTER 3 YRS AND 1 MONTH, BALANCE PAYMENT RECEIVED AND FINAL SALE DEED EXECUTED. WHTHER IT WOULD BE LONG TERM CAPITAL GAIN .
25 September 2014
when did the name tranfer in records took place is not mentioned?
25 September 2014
obviously on 01/01/10 for purchase and on 01/02/13 for sale
25 September 2014
then its long term and not short term.
25 September 2014
It is long term capital gain.
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