Ltcg on property

Sale for the purpose of sec 54?

For the purpose of section 54, the date of agreement to purchase should be taken as the date of purchase and the date of registration of sale deed for purchase is not rele­vant - CIT v. R.L. Sood

Date of taking over possession of property purchased, and not the date of registration of sale in favour of the assessee, is relevant for computing the prescribed time-limit - CIT v. Mrs. Shahzada Begum

Accordingly you can compute the nature of the capital gain

I think LT

Date on which possession of property has been taken, is relevent date.

So I think Year 2066-07 should be taken.

Thanks for the kind support both of you!! As per the comments property considered as long term and LTCG is Rs. 301060/-. Please confirm!!

yes i also think there will be long term

Please see the calculation of capital gain and correct if wrong.

Dear Shivank,

Thanks for your workings. In my opinion It is correct in case of Individual having age less than 60 years.

welcome.....