I am planning to sell my residential property .I paid the first installment and got the allotment letter in april 2013 and I have got the property registered and got handling letter last month. What will be the date of acquisition- date of first instalment or date of registration? Will it be short term gain or long term gain?
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Date of acquisition for residential property
Replies (2)
Long term based on rights aquired in property, by way of allotment letter.
Date of agreement will decide the date of acquisition
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