Long term capital gain for sell of property
This query is : Resolved
25 October 2015
booked flat in 2010. started installment in 2011. completed 80% payments in 2011.
got possession in 2015.
if i sell flat in 2016 should I consider it as long term capital gain? I.e. 3 years will be calculated from date of booking or date at which flat is allotted to client.
26 October 2015
Seems can be counted from 2010 in view of the decision in Vinod Kumar Jain V CIT 344 ITR 501 (P&H).
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