Hi, my father is planning to gift a house to me. He is holding the house for 30 years.
Can I sell this house immediately, within a week?
Will it attract short term capital gain tax for me?
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Selling a gifted home immediately
Replies (1)
No it will not be Short Term but Long Term Capital Gain.
Reason being in case of gifted property the period of holding is counted from the time it is held by previous owner.
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