Capital Gain
This query is : Resolved
22 December 2020
Hi There,
I have a question related to capital gain on my property sold.
I purchased a flat by entering into an agreement of sale (Notarised) in Nov 2013 for 28 Lacs and got the possession in Oct 2016. The sale deed was not registered at this time but was done in Jun 2018 (Stamp duty paid 3 Lacs).
I sold this flat in Dec 2019 and the sale deed was registered for 40 Lacs.
My question is what will be the nature of capital gain here- Long/Short term?
Amount of capital gain tax for AY 20-21.
Thanks in advance.
Regards
I have a question related to capital gain on my property sold.
I purchased a flat by entering into an agreement of sale (Notarised) in Nov 2013 for 28 Lacs and got the possession in Oct 2016. The sale deed was not registered at this time but was done in Jun 2018 (Stamp duty paid 3 Lacs).
I sold this flat in Dec 2019 and the sale deed was registered for 40 Lacs.
My question is what will be the nature of capital gain here- Long/Short term?
Amount of capital gain tax for AY 20-21.
Thanks in advance.
Regards
23 December 2020
It's long term capital gains only. Adopt November 2013 index.
24 December 2020
Thanks a lot Sir for your quick response. Appreciate your help.
I believe you already have considered the fact that possession letter was received on 3rd Oct. In view of this just wanted to make sure that index of 2013 can be used.
Please help.
I believe you already have considered the fact that possession letter was received on 3rd Oct. In view of this just wanted to make sure that index of 2013 can be used.
Please help.
24 December 2020
Yes, it can be used. Have notorised sale agreement as evidence.
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