Capital gain
This query is : Resolved
06 July 2015
Sale of House property
Date of purchase - as per agreement - 19.06.2010
Purchase Value - Rs.47,00,000/-
Date of Possession - 15.04.2015
If I sell the house property today.
How will the Capital gain be treated - Short term or Long term?/
Date of purchase - as per agreement - 19.06.2010
Purchase Value - Rs.47,00,000/-
Date of Possession - 15.04.2015
If I sell the house property today.
How will the Capital gain be treated - Short term or Long term?/
06 July 2015
Date of purchase will be considered as per agreement, hence it is a long term capital gain.
06 July 2015
Please use the capital index of 711 that is applicable for 2010-11
11 July 2015
Thanks a lot for your opinion. had another opinion from an expert saying that only on possession do we start owning the house til then we only have a right over property and not the property as such. Also what will be the effect for pre possession interest
11 July 2015
Pre possession interest include it in the cost of the asset for the purpose capital gains calculation.
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