Capital Gain On Residential Property long Term or Short Term

Tax planning 125 views 4 replies
User Avatar

consultants
82 Points Joined October 2007

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 

 

 

 

1 Reply Share Follow
On 14 December 2021 at 17:54 Report
Replies (4)
User Avatar

27922 Points Joined May 2017
It's a short term Capital gain.
Reply
On 14 December 2021 at 18:39
User Avatar

SEO Sai Gr. Hosp.
197760 Points Joined July 2016

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

1 Reply
On 14 December 2021 at 19:09
User Avatar

consultants
82 Points Joined October 2007

Dear Sirs, 

I am confused. 

Dhirajlal Sir  Please site some  Rulings in  Our  favour 

Thanks in advance. 

 

Reply
On 15 December 2021 at 17:39
User Avatar

SEO Sai Gr. Hosp.
197760 Points Joined July 2016

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

 

1 Reply
On 15 December 2021 at 18:34


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading