Capital gain

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Proprietor
24 Points Posted on 05 October 2015

We had an ancestral property,it went for redevelopment in 2005.However,the builder made an agreement for allotmnet of flat inexchange of commercial shop we owned in October,2014.

we sold the said flat in march,2015.

Will this be a longterm gain or short term gain

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On 05 October 2015 at 17:20 Report
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Chartered Accountant
766 Points Posted on 05 October 2015
Hi, Sale of flat is a short term capital gain, where as conversion of commercial shop to flat is a longterm capital gain. Regards, Karthik V Kulkarni
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On 05 October 2015 at 21:06

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