Sale of Flat - Long Term or Short Term?
This query is : Resolved
04 February 2009
Nature of Asset : Flat (Under Construction)
Date of Purch Agreement (Registered) : 30/03/2004
Date of pyt for purch : 10/04/2004
Date of Possesison recd. : April'2007
Date of Sale : Jan'2009
Whether Long Term or Short Term Capital Gain?
Date of Purch Agreement (Registered) : 30/03/2004
Date of pyt for purch : 10/04/2004
Date of Possesison recd. : April'2007
Date of Sale : Jan'2009
Whether Long Term or Short Term Capital Gain?
04 February 2009
It will be short term capital gain because possession has been taken in April 2007 which is less than the mandatory period of 36 Months.
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