Clarifications regarding LTCG property transactions

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  1. algore

    algore New Member

    I need end clarification on LTCG calculations for sale of flat.

    The details are given below:-

    Date of booking. 10 Aug 2009
    Date of agreement with builder and registration 29 Nov 2010

    Date of possession. 04 Jun 2012

    Planned to sell the flat as per details

    Agreement to sell with buyer registered 09 Mar 15

    Sale Deed. Registration 31 Mar 15.

    Please clarify if the above qualifies for LTCG .

    Date of
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    As the property has been held by you for more than 3 years, therefore this qualifies as Long Term Capital Assets and the Gains would be LTCG.

    You can also claim capital gains exemption from the gains which arise on the sale of this property
  3. algore

    algore New Member

    Thanks Sir.. I have one more query regarding Inflation index..
    If after the agreement to sell is done in March 15, and the sale deed gets registered in the next financial year 2015-16 does the index for 2015-16 apply for cost indexation.
    How do you calculate Cost indexation in case some payment is done in 2014-15 and the rest in 2015-16.
  4. gaurav_kumar

    gaurav_kumar Well-Known Member

    Cost Inflation Index of the date in which the property has been registered would be considered.

    In case the payment is received in different years, then also the date of registration would be considered for the whole amount.
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