Capital gains tax

Quote: I am an NRI. I hold an apartment in Thane (Mah). It was purchased by me on construction based progress payments. The property was registered in the year 2010 for a value of Rs 56lacs when construction was going on. Final possession is due next month ie Oct 2015. I am planning to dispose the same off.

My queries are:
 

(b) What is the date of acquisition to be considered? date of regn - (2010) or date of getting occupation certificate (2015)?

(a) How will the capital gain, if any, be termed? Short term or long term.

(c) What will be the tax rate?

 

Thanks and Regards

 

Ram

Replies (3)

If we go as per Section 2(47) we have to determie if its a capital asset. The construction period wil laso be counted here for determining the CG, here it seems its an LTCG and will be taxed at 20%. 

Thank you... I guess then I use the Indexed rate of 2010/2015 and calculate the LT captial gain by normal means.

 

Appreicate it

Capital gain arising sale of Shares though NSE/BSE :

I am resident Indian.

I have some loss under STCG and booked profit under LTCG. Profit under LTGC is not taxable.

Can I carry forward losses under STGC only to next year?

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 14 August 2026
Article Assistant

N J Suresh & Associates

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details