Confusion on capital gain tax on selling flat
This query is : Resolved
30 March 2015
I had a doubt and need your guidance.
I have a flat and willing to sell that in order to buy bigger flat.
The flat has three papers :
1) Date of allotment by builder on 16th April 2011 stating my flat number its area and my downpayment information.
2) Date of registration and stamp duty by the local authorities of 11 Oct 2011
3) Date of possession letter of property on 26 sep 2012
Q1') For calculation of 36 months what is the date that holds good if i want to sell it today?
Q2) Will i be charged short term or long term ?
Q3) I have taken yearly tax benefits what will happen to it ?
I have a flat and willing to sell that in order to buy bigger flat.
The flat has three papers :
1) Date of allotment by builder on 16th April 2011 stating my flat number its area and my downpayment information.
2) Date of registration and stamp duty by the local authorities of 11 Oct 2011
3) Date of possession letter of property on 26 sep 2012
Q1') For calculation of 36 months what is the date that holds good if i want to sell it today?
Q2) Will i be charged short term or long term ?
Q3) I have taken yearly tax benefits what will happen to it ?
30 March 2015
1. it will be taken as 11/10/2011
2.if you sell it in fy 2014-15 now in march 2015 it will be ltcg.
3.how u taken pls explain?
2.if you sell it in fy 2014-15 now in march 2015 it will be ltcg.
3.how u taken pls explain?
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