Tax on capital gains
Querist : Anonymous
I paid the balance amount to the builder by taking loan on 11 November 2007 and took the possession of the flat.
But I registered the "Deed of Sale" on 5th May 2009.
Now I want to sell the flat.
If I sell it in December 2010, will the capital gain be considered as long term capital gain?
Please inform which date will be considered as the "date of purchase" for capital gain calculation?
In your case It will be treated as long term capital gain
Querist : Anonymous
and you havew mentioned that date of sale is December 2010
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