Tax on house sale.Capital gains or other sources?

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Ashwini (Querist)
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27 February 2024 I have entered into agreement for purchase of flat on24.02.2020 and amounts are paid through bank loan.Flat is not registered in my name.
Occupancy / possession taken on 08.06.2022 .
I have sold the flat on Sept 2023.The sale deed shows my name under "Consenting witness"and not as VENDOR.
Buyer has deducted TDS in my name even though flat has not been registered in my name
I have capital gains of Rs.20 L on this transaction
I have entered into other agreement for purchase of flat on Oct 2023 and paid entire cost of flat.
Can it be treated as long term capital gain and can I claim exemption under section 54 / 54F

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 May 2024 The exemption cannot be claimed as the CG would be Short Term.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 September 2024 Good Luck.

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