DDA Flat Allotment

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shikha (Querist)
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21 April 2011 Hi
I filled DDA form and luckily got one flat allotted from DDA.my question is if I sell the Allotment letter on premium to property dealer what are the tax implications.Do I need to pay short term capital gain tax or any other tax on the premium amount which i will receive.

Please suggest.

Maninder Jain

Maninder Jain (Expert)
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22 April 2011 Whatever premium you are getting by cheque you have to pay short term capital gain on it. Since allotment right to a flat is a capital asset & you have not held the right for more than 36 months, it is STCG.

Any way i am also interested in purchasing this flat. If interested can contact me at

mjain@hondacarindia.com

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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22 April 2011 If you are selling allotment right before 36 months, it would be taxed as short term capital gain.

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