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property ownership- transferring
01-May-2023 (In Property Law)
I purchased a property in 2000 but the sale deed was registered in 2014. I then sold the property in 2014 itself. Am I liable for STCGT or LTCGT, since technically AND legally, I became the owner of the property only in 2013, when the sale deed was registered.
Long term capital gains tax on a property @ 20% is applicable in the event that the property is held for three years.
Your query is silent as to whether you took the possession of the house prior to the sale deed being registered in 2014.
And if you took the possession of the house at the time of purchase then sale would attract long term capital gains tax.
Your query is silent as to whether you took the possession of the house prior to the sale deed being registered in 2014.
And if you took the possession of the house at the time of purchase then sale would attract long term capital gains tax.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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