11 December 2013
A person has purchased a flat from a builder vide agreement dated 02/05/2006. Flat was alloted on 05/04/2007 when the allotment letter was issued bearing flat no. and as a details. Payment was made from 2006-2010 and possession of the flat was given in July 2011 followed by sale deed in July 2011. This flat was sold in July 2013. Whether it will be long term capital gain ( Vinod Kumar Jain V/s CIT(2012)344 ITR 501(P & H). How cost will be indexed in case of long term capital gain. R.P. Varshney
11 December 2013
when did the actual name was transferred from old owner to new one will be the date of acq and accordingly the holding period shall be calculated.
CAclubindia
