Long term capital gain vs short term gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2012
Mr A has acquired the house property in 1985 for Rs 5 lakhs
gifted a house to his son during November 2012 and stamp duty is paid on the transfer at market value
The said property is acquired by the builders for redevelopment and he gave addional 200 sq ft area during Novemeber 2012 only
Whether the said additional area is subject to capital gain?
Whether short term or Long term?
gifted a house to his son during November 2012 and stamp duty is paid on the transfer at market value
The said property is acquired by the builders for redevelopment and he gave addional 200 sq ft area during Novemeber 2012 only
Whether the said additional area is subject to capital gain?
Whether short term or Long term?
Amol S Joglekar
(Expert)
20 November 2012
Did the builder "GIVE: or "AGREE to GIVE" the additional area? Hope it is agree to give. In the hands of SON, it is still the same capital asset viz house property.(Before redevelopement or after redevelopement).
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