Hi, I have a plot from HUDA in Haryana which was alloted to me in March 2008.I have paid 25% upfront and and paying the remaining amount in annual installments.Half of the amount still needs to paid. If i sell the plot after Mar 2011, will the sale fall under long term capital gains? Also I aplied for the plot with 10% of the amount around oct 07,will the counting of three years start from Oct 07 or March 08. thanks!
1 Answers
If you sell plot after Mar 2011, it will be considered long term capital gains.
Allotment/Possession date can be considered while computing long term capital gains.
thanks Pankaj.
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