banner_ad

Tax category on sale of under construction flat - long term or short term

Tax queries 182 views 5 replies

I entered into purchase agreement with a builder for a flat and sold it as follows

Date of Allotment letter from builder for purchase of under construction flat - 05/12/2013
Date of Agreement with builder for purchase of the under construction flat - 27/01/2014 (not registered)
Date of Possession letter from the builder - 14/07/2018
Date of agreement for CHANGE OF NOMINATION between builder, myself and new purchaser and accomplishment of  NOMINATION CHANGE- 17/09/2018

Kindly inform whether the type of gain is long term or short term.

Replies (5)

Its Long term holding of 'Rights acquired in a property'

Rambhia Sir By the term "Long term holding of 'Rights acquired in a property' ", what does it mean? May I get indexation benefit. May I get benefit of 54F.

Correct, you acquired right in the property on 5/12/2013, vide allotment letter, hence its LT cap asset, eligible for sec. 54F exemption.

Sir Regarding indexation benefit, should it be availed installment payment wise?

Yes.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details