Capital tax gain stcg / ltcg on sale of property
This query is : Resolved
15 December 2014
Dear Sir,
I am selling my flat.
I had purchased an under constuction flat on 01/12/2010 and done the AGREEMENT TO
SALE on 10/12/2010. And I got possession on 02/06/2012 and I am staying since last
2.5 years. Society is formed and I have also received the share certificate.
So to summarise.
Date of AGREEMENT TO SALE : 10/12/2010
Date of Possession : 02/06/2012
So If I sell the flat today , i.e. 15/12/2014. Will I come under SHORT TERM CAPITAL
GAIN or LONG TERM CAPITAL GAIN?
Thank you for your time.
Regards
I am selling my flat.
I had purchased an under constuction flat on 01/12/2010 and done the AGREEMENT TO
SALE on 10/12/2010. And I got possession on 02/06/2012 and I am staying since last
2.5 years. Society is formed and I have also received the share certificate.
So to summarise.
Date of AGREEMENT TO SALE : 10/12/2010
Date of Possession : 02/06/2012
So If I sell the flat today , i.e. 15/12/2014. Will I come under SHORT TERM CAPITAL
GAIN or LONG TERM CAPITAL GAIN?
Thank you for your time.
Regards
15 December 2014
Read it carefully.....You sell the RIGHT which you acquired on 10/12/2010. Then it will be LONG TERM CAPITAL GAIN.
I repeat......dont sell the FLAT, sell the right which you acquired through the agreement dated 10/12/2010
I repeat......dont sell the FLAT, sell the right which you acquired through the agreement dated 10/12/2010
Message likes :
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16 December 2014
Dear Amol sir,
If I take the 20% amount and do the agreement to sale and then take the remaining 80%(Which is going to come from loan) on 5th June 2015 , by when 3 years will be over. So will that be ok.
did you mean this?
If I take the 20% amount and do the agreement to sale and then take the remaining 80%(Which is going to come from loan) on 5th June 2015 , by when 3 years will be over. So will that be ok.
did you mean this?
16 December 2014
What I mean is the agreement to sale between you and your prospective buyer should be for the PURCHASE OF RIGHTS acquired by you by the agreement dated 10/12/2010.
What you are selling is this RIGHT and not the FLAT.
I know it is bit TRICKY to understand.
What you are selling is this RIGHT and not the FLAT.
I know it is bit TRICKY to understand.
16 December 2014
Thanks Amol Sir for your kind reply.
Regards,
Nilesh
Regards,
Nilesh
16 December 2014
You are most welcome.
.
.
.
.
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