Capital gain on flat purchased from builder

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

02 March 2015 sir,
One of my client purchased flat from builder directly in 2009 and continued to pay installment since then till the year 2014 and the property was finally registered in the year 2014 in his name,but agreement to purchase was entered in 2009. Now he wants to sell the flat. I want to know what will be the holding period of this flat for computation of capital gains and can he take benefit of sec 54.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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02 March 2015 In my opinion capital gain would be computed from the date of possession or from the date of registry. If possession is from 2009 only than capital gain will be long term. But wait for other opinions.

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