Capital gain tax changes for FY 2015-16

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  1. jai.jarora

    jai.jarora New Member

    I had 2 queries on long term capital gain tax.

    a. I had a property registered on 2009 (paid approx 40%) and was given possession in 2013 by the builder . If i now intend to sell it in 2015 ,will it be considered long term gain or short term gain.
    b. Are there any changes in section 54 by which one can avail long term capital gain only if they have one residential property in india ? OR this rule is not yet brought in ?

  2. Manoj Mehra

    Manoj Mehra Active Member

    1. The date of agreement with the Builder in 2009 would be considered as the Date of Acquisition as it give you a right to purchase the asset.
    2. There is no change with respect to Capital Gains Exemption in the recent budget
  3. jai.jarora

    jai.jarora New Member

    Thanks Manoj for the there has been no amendment this budget or previously, which allows only first (one)property transaction to have capital gain benefit.
    So If one has more than one property then also they can take capital gain benefits by investing gains in new residential property?
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