LTCG or STCG

Tax queries 1301 views 11 replies

if the cost of improvement is incurred on two dates

1. more than 3 years from the date of transfer

2. within 3 years from the date of transfer

Whether the transfer of such property be treated as LTCG OR STCG

Replies (11)

It will be both LTCG. Acquired date is the date which classify the Asset is either STCG or LTCG. The improvment date does not matter when it is occuered..........................it should be LTCG only

Mr.Sandeep is right.

Acquisition date is the date for consideration for deciding whether an asset would qualify for LTCG or STCG. Cost of Improvement is indexed  and  dedcuted for calculation of capital gains.

 agree

it ll be considered as LTCG

It is LTCG in both case. For eg. If date of purchase of asset is more than 3 years and date of improvement is in the same year in which asset is transferred then also it is a LTCG.

yes sandeep is right

Originally posted by :Sandeep Pandey
" It will be both LTCG. Acquired date is the date which classify the Asset is either STCG or LTCG. The improvment date does not matter when it is occuered..........................it should be LTCG only "


 

Agree with Sandeep.

Its date of Acquisition that clasiifies whether the asset is LTCG or STCG.

 

Originally posted by :Sandeep Pandey
" It will be both LTCG. Acquired date is the date which classify the Asset is either STCG or LTCG. The improvment date does not matter when it is occuered..........................it should be LTCG only "

 

Agree with Sandeep

agree with al above..

As per provisions date of improvement doesnt matter at all while deciding wheter an asset is a Long term asset or short term asset. Date of acqusition of asset is important.

 It will be long term capital gain. The period shall be taken from date of aqusition. The date of improvement exps is not important


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