Capital gain calculation on house property

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This query is : Resolved

vibhor (Querist)

04 September 2012 We acquired the shares of a G/H Society in 1998. Since then, we were regularly paying the installments towards the cost of the Flat. The allotment of flat was made in 2010-11 & the same flat was sold in 2011-12. Now, pls clarify followings;
1. how should we calculate the Capital Gains?
2. Indexation cost will be calculated on Payment basis?
3. Is it a STCG or LTCG as allotment was done only in 2010-11 & flat sold on 2011-12?
An early response is highly appreciated. Thanks

CA Ayush Agarwal

CA Ayush Agarwal (Expert)

04 September 2012

Can You Provide Numerical Figure, Share Acquired Amount, & Installments Amount ?

vibhor

vibhor (Querist)

04 September 2012 We purchased Rs.100 shares in 1998. We paid many amount between 1998 & 2010-11. Total approx Rs.35 lac. Allotment was in 2010-11 & the same was sold for Rs.50 lac in 2011-12. Can we bifurcate in two parts? One is sale of right to own a HP & other is HP itself?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)

04 September 2012 In This Case Shares is Not to Be Treated as Capital Asset, Capital Asset Will Be HP Only.

This Will Be Treated as Per My Perception is Long Term Capital Gain.
& Accordingly Indexation Apply.

Other Views are Solicited.

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