dear sir my client has purchased house on 5 th April 2018. for stamp value1200000.he paid advance. 500000 on. 12feb2018 ,, he sold that property on 25 march 2019.he rec'd advance 300000 recdon oct2019 my query is. at what date I treat purchase date. and transfer date and can he get any exemption
plz reply sir
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Replies (1)
The gain/loss is short term, while date of transfer can be taken as the date of registration of transfer deed or possession handed over, whichever earlier.
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