Capital gain on property

Querist : Anonymous (Querist) 31 October 2009 This query is : Resolved
Dear Sir,

I wanted to know about the Capital gains rule for property if sold before 3 years of purchase. Is capital gain applicable.

If Sell deed is not their than is it advantage to the seller or in that case also capital gain is applicable.

If the property is over 3 years and Sell deed is not their is capital gain applicable.If property sold than can stampduty is refundable if sell deed is not their.

Kindly also wants to know who has to inure the expences of Sell deed.

Regards

Deepak Kulkarni
Mobile 9850985011

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A V Vishal (Expert) 31 October 2009
Mr Kulkarni

Kindly also wants to know who has to inure the expences of Sell deed.

Ans. The purchaser has to bear the expenses of the sale deed.

If the property is over 3 years and Sell deed is not their is capital gain applicable.If property sold than can stampduty is refundable if sell deed is not their.If the property is over 3 years and Sell deed is not their is capital gain applicable.If property sold than can stampduty is refundable if sell deed is not their.

Ans.Sale deed is executed to transfer the rights and interests of the vendor to the vendee. By not executing a sale deed the vendee will be put to hardship in future and your query regarding capital gain I have to state even without a sale deed if you sell then you are liable to capital gain else you are evading taxes. Stamp duty is also not refundable except in case such claim be made to the collector of Stamps within a period of 6 months from the date of purchase of Stamps.

I wanted to know about the Capital gains rule for property if sold before 3 years of purchase. Is capital gain applicable.

Ans. If property is sold within 3 yrs then short term capital gain is attracted and the benefit of indexation is not available.