STCG or LTCG
This query is : Resolved
02 November 2009
A plot of land alloted by HUDA in 2002, posession of same is given in 2008, and sold in 2009. whether it will be STCG or LTCG.
03 November 2009
WHEN ALLOTMENT IS GRANTED THEN U BECOME OF OWNER OF THE LAND,
AS PER THE TRANSFER THE PROPERTY ACT U WILL BE THE LEGAL OWNER OF THE PROPERTY,
PART PERFORMANCE FROM YOUR HAND IS COMPLETED ,
ONLY BECAUSE THE POSSESSION IS NOT RECEIVED CANN'T MAKE THE DIFFRENCE,
IN MY OPINION, THERE SHOULD BE LTCG.
AS PER THE TRANSFER THE PROPERTY ACT U WILL BE THE LEGAL OWNER OF THE PROPERTY,
PART PERFORMANCE FROM YOUR HAND IS COMPLETED ,
ONLY BECAUSE THE POSSESSION IS NOT RECEIVED CANN'T MAKE THE DIFFRENCE,
IN MY OPINION, THERE SHOULD BE LTCG.
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