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Dear Pankaj, Kindly please let me know whether the LTCG calculation is from the date of registration of the property or from the date of possession. I have a own house in pune and registered it on 04-01-2008 whereas the date of possession is in January 2010. I bought the house for 21 lakhs and am shifting to chennai. Due to the urgent demand for my early joining for my new job, I have to sell the property even if it means a loss to me. So kindly clarify the above doubt for me. Would I fall in the STCG or the LTCG bracket. Please do reply to [email protected] urgently. Regards, Nitin Rao Chandavar Mobile: 9552077521 asked Jun 09 '11 at 05:08 by Nitin Rao 1●3●3●3 |
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You should use date of registration for computation of gains. And based on that the gains arising from this sale will be counted as long term gains. answered Jun 09 '11 at 12:58 by Pankaj Batra 5.2k●3●20 Thanks Pankaj,
Your method of short yet precise reply is very truly appreciated. I was under the impression that the date of possession would be taken but I do not have any proof of it. But the date of registration papers are there with me which indicates as mentioned above in my earlier query.
Thanks once again.
Nitin Rao Chandavar
(Jun 10 '11 at 02:00)
Nitin Rao
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