Long Term Capital Gains on sale of Flat

I booked a flat in the year 2012 for a consideration of Rs. 5200000. Periodic payment was made as per the progress of construction. Final installment was paid in December 2017. I took possession of the flat in March 2019 and disposed it in May 2019 for Rs 5800000. There was no registration of the flat in my name at any time. What is my Capital Gains liability in this case considering that payment was made in installments over a period of about 6 years before possession in March 2019 and holding for just about 1 month before disposal in May 2019?

Please advise.

Replies (2)
Quick Summary
This discussion explores capital gains tax liability for a flat purchased in 2012, with final payment in December 2017, possession in March 2019, and sale in May 2019. The core question revolves around whether the gain is long-term or short-term, given the extended payment period but short holding period post-possession. The consensus suggests that since possession was taken in March 2019 and the flat was sold in May 2019, the asset is considered short-term, making any profit a short-term capital gain.

There was no registration of the flat in my name at any time . then whose the owner of the house and how did you sell it, i mean at the time of sale , what was the name of the seller in the deed?
You got the ownership (significant amount of consideration paid and Handover letter received) in march 2019. Hence, the asset will be considered as 'short term capital asset' and any gain arising out of it will be considered as 'short term capital gain.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details