Sale of House Property
This query is : Resolved
24 May 2009
Hello, I had purchased an under construction property in sep 2005, which got completed in Jan 2007 and I got it registered in April 2007.
I would like to know, to calculate the gains on sale (short term or long term), from when will the 3 year period be counted ? From sep 2005 or Jan 2007 when the property was completed and possession handed over to me ?
I would like to know, to calculate the gains on sale (short term or long term), from when will the 3 year period be counted ? From sep 2005 or Jan 2007 when the property was completed and possession handed over to me ?
chetan soni
(Expert)
25 May 2009
The period of 3 years will counted from the date of registration of property in your name i.e April-07 in your case.
Long or short term will based on the registration date.
Long or short term will based on the registration date.
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