Capital Gain

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Deepak Chawla (Querist)
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22 November 2010 my relative has purchased a property in noida in (2004-2005) of rs. 25,00,000/- on the basis of agreement to sell but he has register by noida authority on dt 07/09/2007 (2007-2008) the same property he had sell on 03/06/2010 of rs. 42,00,000/-. he have a procession of this property since 2004-05 and he have earned rental income on this propety ahd also shows as income in his return of income , pls advise this is short term capital gian or long term capital gian.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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22 November 2010 it will be treated as long term capital gain.here possession is important.and period will be considered from the date of poss.

CA. Aryendra

CA. Aryendra (Expert)
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23 November 2010 Agree with Sanat Pyne

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