Capital gain

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Dear Sir,

           i purchase land in 2008 and then construct flat on it and obtain pussesion on it in 2010 but wholl payment not paid in 2010 but paid pending payment in 2012 then sold it in at the end of 2013 so in that case for AY2014-15 ,Which capital gain consider i.e. short term capital gain or long term capital gain?

Replies (5)

Long term based on possession.

Thanks sir for reply,

               But whether payment made in 2012 affect the capital gain.

No. Ownership counted from possession in 2010.

tell me the exact month in 2010 of possession and 2013 sale month. Only then can decide whether long or short term. However the capital gains proportionate to land is long term
If diff between 2010 & 2013 is < 36 months then proportionate share of building is short term


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