Sirs, i had bought a property from a reputed building in Bangalore in 2013 - on construction based payment terms. Between 2013 and 2017 - i paid 90% of the value based on construction progress. Then the project had stopped. Last year, with help from the Government's SWAMIH fund, this project got revived and in March 2023, i paid the balance 10% and got the project registered in May 2023.
If i have to sell the flat now, whether it will attract short term capital gain or long term capital gain? I saw one Mumbai HC ruling in a similar case which said the allotment letter given by the builder (in 2013) can be taken as the date of purchase and hence it should be considered under LTCG.
Can i get some advice whether i can claim LTCG based on one ruling? Else, i would like to delay my sale to complete the minimum period required for LTCG.
CAclubindia
