Capital gain consideration
This query is : Resolved
17 November 2024
I booked a villa in March 2022 from a builder and secured a home loan in March 2022 based on the agreement. As per the agreement all installment of payments was made on time .The villa was registered in July 2024 after completion of construction . Now, I am selling the villa in November 2024. What will be the applicable capital gains tax—long-term or short-term?
17 November 2024
Whether the agreement was registered in March 2022?
18 November 2024
Agreement done between both parties on 500 rs stamp paper only.
18 November 2024
Even it be considered as allotment, the time period for 'rights acquired in an asset' should be 24 months (if sold after 23.07.2024) to be consider it as Long Term holding.. So it will be Long term capital gain.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Rent lease agreement
- Merchant Export Accounting
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
