Date of transfer for immovable property for capital gain

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CA Jasbir Singh (Querist)
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10 December 2013 Mr. A want to sell his immovable property to Mr.B in Rs.10 Lacs, which was purchase by Mr.A on 31.03.2010. Mr.A Received Rs.2 Lac on 25.03.2013 as advance money. later on Mr. A transfer the property to Mr. B on 01.05.2013 and received balance amount ie Rs 8 Lacs. So what will the date of Transfer for computing Capital Gain and Period of holding ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 December 2013 Date of transfer means on record when there is change in the name of owner of such capital assets in the official govt records.

CA Jasbir Singh

CA Jasbir Singh (Querist)
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10 December 2013 so what will the date of transfer and capital gain is short term or Long term ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 December 2013 1.5.2013 and period of holding shall be from 31.3.2010 till 1.5.2013 = 37 months + 1 day =LTCG.

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