Capital gain on residential house
This query is : Resolved
Quick Summary
15 March 2023
Dear Sir,
It would be under short term capital gain or long term capital gain in following conditions -
1. Residential plot purchased on April 2019.
2. Construction done during 2020.
3. House sold on July 2022.
Please clarify.
It would be under short term capital gain or long term capital gain in following conditions -
1. Residential plot purchased on April 2019.
2. Construction done during 2020.
3. House sold on July 2022.
Please clarify.
15 March 2023
Whether construction completed before July 2020?
If yes, then whole HP will be eligible for LTCG..
If yes, then whole HP will be eligible for LTCG..
15 March 2023
yes it was completed, and if it is completed after july 2020 then how it would be calculated
15 March 2023
In that case LTCG will be only over Land portion, while rest part will be under STCG.
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