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Srikant (Scientist)     15 February 2012

Long term capital gains

I had purchased an apartment in Navi Mumbai in Nov 2007. Agreement of sale was registered in the same month and I have paid the stamp duty and registration fee on the full value of the agreement. Possession of the apartment was given to me in July 2009. I have now sold the property last month i.e Jan 2012. Kindly let me know if the gains arising from this transaction would come under Long term or short term capital gains?

Look forward to your reply.

 

Thanks

Srikant



Learning

 1 Replies

Naveen Singh Negi (Advocate)     15 February 2012

The gain arising by transfering the asset for more than 3 years will be long term capital gain, as you purchased property in Nov 2007 and sold it in 2012.

 

Thanks

Naveen Singh Negi

Advocate


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