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How can we avail long term capital gains on selling plot?- Property Hotline
Posted
September 29, 2016
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September 29, 2016
640
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3:51
3:42Now PlayingExpert: Pannkaj Ghadiali, Managing Partner at PC Ghadiali & Company LLP.
Question: I bought a property in 2010 and it was registered in the same year. Possession was given in March 2015. If I sell it now, will it be long-term or short term capital gains?
Answer: If the property was bought and registered in 2010, it will be considered as a long-term asset. According to the law date of possession is from when you actually calculate capital gains. So in your case you are not eligible to exempt capital gains.
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