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(Querist)
23 August 2021 Sir
My client purchase property in April 2018 and sell it after construction in Jan 2021. I want to know whether it is considered as short term or long term capital gain.
He has occupation certificate in 2020
Can he sell after it.
Pl advise.
Regards
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
24 August 2021 If sold on/before 24 months, short term capital gain and if sold after 24 months, it would be a long-term capital gain.
With regard to the date of acquisition, if substantial payment has been made, then such date can be considered for the purpose of computation of period of holding.
But am not sure about this. Let's see what others would opine.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
26 August 2021 In such cases, registered purchase agreement can be taken as date of acquisition of rights in the property.
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