Short term capital gain on property

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106 Points Posted on 23 November 2020
my mother first sale property 10500000 and purchased 2 properties of 5500000 and 4700000 in Financial year 2018-2019. so should I calculate short term gain and on which percentage? please help
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On 23 November 2020 at 18:49 Report
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Quick Summary
This discussion clarifies how to calculate short-term capital gains tax when selling a property. It highlights that the tax is determined by the holding period of the asset. To accurately assess if a gain is short-term, one needs to know the exact purchase and sale dates of the original property.

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Tax consultant
5895 Points Posted on 23 November 2020
When you're mother purchase the property
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On 23 November 2020 at 18:57
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ca
29 Points Posted on 23 November 2020

from the date of purchase

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On 23 November 2020 at 19:11
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Tax consultant
5895 Points Posted on 23 November 2020

Am asking that only which year is your purchase deed of the sold property

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On 23 November 2020 at 21:45
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12244 Points Posted on 24 November 2020
What's the date of purchase and date of sale of original asset? only then it can be decided whether the property sold is short term or long term capital asset?
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On 24 November 2020 at 02:48

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