Period of holding in capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2012
If Assessee gets letter of allotment on 18/12/2008 & letter of offer for possession on 19/11/2010.he sells the plot on 25/11/2012
what will be his period of holding whether his gain will be long term or Short Term
what will be his period of holding whether his gain will be long term or Short Term
Amol S Joglekar
(Expert)
21 August 2012
Please provide the wording of allotment letter. The 'capital asset' is the key word. Whether the plot of land was a capital asset at allottment or possession.... you need to take a host of other relevant things into consideration to decide the period of holding. The point to be noted is the 'capital asset'.
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