Capital Gains

Querist : Anonymous (Querist) 22 July 2010 This query is : Resolved

I Had book a flat in 2006 by payment of Rs. 50,000/- and got that Flat registered in 2010 I want to sell this flat whether it will be long term or short term capital gain

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A V Vishal (Expert) 22 July 2010
STCG

Kumar Thadhani (Expert) 23 July 2010
It seems that since you had registered your flat in 2010 ,you had made final payment of your agreement for your flat in 2010 ,and had got possession of the same in 2010. Now if sell this flat in the same year i.e. 2010 ,it is considered to be short term capital gains.

Querist : Anonymous (Querist) 25 July 2010

Thank you for your guidance

soumitra basu (Expert) 01 August 2010
If you can prove that the flat was occupied by you on or before 2007 then it shall be treated as long term otherwise short term.

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