Long term capital gain vs short term gain

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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?

Amol S Joglekar

Amol S Joglekar (Expert)
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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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