Capital Gain On Residential Property long Term or Short Term

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Hello Every One, 

My Client has purchased a Flat in Mumbai for  63000000 on  26-06-2013

Registration is done on 30-09-2013.

A possession letter  was given on  20-02-2020

Sold  the same for 7500000  on  22-03-2021

Is this a long  term gain or a short  term  gain  Please  reply

Thanks  in advance 

 

 

 

Replies (4)
It's a short term Capital gain.

Based on registration agreement, right in the property is acquired on 30.09.2013. As such it becomes LT holding.

Dear Sirs, 

I am confused. 

Dhirajlal Sir  Please site some  Rulings in  Our  favour 

Thanks in advance. 

 

https://itatorders.in/blog/date-of-allotment-to-be-considered-for-calculating-holding-period-even-if-date-of-possession-is-later/

 

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