Shilpa Sood, Apartment Resident
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Long term capital gain
Q: I have a property allotted to me in 2010. The actual possession was in 2014. For Long Term Capital Gain is date of allotment be considered or date of possession? I have booked a new flat last month under the subvention scheme. Can I buy a new house other than this one from the sale of the first house? Am I eligible for tax exemption

Latest Answer: Hi all, A considerable issue which arises in context of transfer of rights in the property under construction as well as in case of transfer of property (after taking the possession) is - whether the gain on transfer is short-term or long-term?

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