REGARDING LONG TERM AND SHORT TERM CAPITAL GAIN
R_PVK
(Querist) 10 February 2011
This query is : Resolved
dear sir
my mother acquired a property of her brother thru scuession after his demise the querry related to the subject are as mentioned below
(1) my uncle owned two houses in chennai the first one in walmiki nagar purchased on 1998-99
including land cost was RS 8,68900, and after my mother acquired and sold at 22,2700 Rs
(2) The second was in south mada street purchased on 1997 including land was Rs 399813 and sold at 29,0000 on feb 2011
pl give the expert advice on the long term capital gain ,whether the LONG TERM 3 years holding is based on my uncle held to my mother sold period or is it 3 years after my mother acquired.and what will be the approx tax to be given. your expert advise will be highly appreciated
Regards
R_PVK
A V Vishal
(Expert) 10 February 2011
Both qualify for LTCG
R_PVK
(Querist) 10 February 2011
dear sir
if my uncle had kept the two house say more than 10 years and after his demise my mother had acquired it on jan 2011 and sold immediately then also is it ltcg pl revert
regards
R_PVK
A V Vishal
(Expert) 10 February 2011
Yes it is LTCG
