Mr.A has sold Commercial Property in May'12 and has purchased on Apr'09 only by payment of consideration (Without making sale deed), but the sale deed is prepared in May'11. So, whether gain arising from sale of Property is STCG or LTCG.
If it is STCG, then whether any deduction can be claimed for purchase of another property in same year ? (I think not available).
Pls. reply me on this matter.
CAclubindia
