September 14, 2013 12:25 pm
I Bought a under construction, unit allotted flat on loan in year 2010. Took possession in Nov 2012, and sold the flat in Aug 2013. Can i claim long term capital gains ??
Dear vnvmadhav, you can claim LTCG only on the part for which basic money was paid in 2010 till August. Any money after that ‘ll be STCG.
You cannot claim Long term capital gains. Taking the possession of the flat is the criteria for determining Long term capital gains.
I think, for computation of LTCG, the date of registration of the property becomes important and 3 years are counted from here.
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