Income Tax on Sale of Property

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  1. Khaleel

    Khaleel New Member

    I bought a Plot from Development authority in the year 2012. The Plot was a direct allotment from authority in my name with payment to be paid in equated installments over a period of three years. I paid the payment and finally got the Plot registry done in January 2016. I sold of the said plot in March 2016 with a profit. Please advised whether this profit will be treated as Long term capital gain as the plot was alloted four years back or Short term gain.
     
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