Capital Gain – Short Term or Long Term and Tax savings?

I bought a property in Kolkata sometime back. The allotment date was in 2005, however the prosession date was in Jan 2011. I now want to sell it and use the proceedings to buy another property. Will it come under Short Term or Long Term capital gain? If it is STCG, is there any way to save on Tax?

2 Replies to “Capital Gain – Short Term or Long Term and Tax savings?”

  1. Date of possesstion or actual registration date is date of your purchase. So this date will be considered for deciding the status of gain (STCG or LTCG) This way if property is sold before Jan 14, there will be STCG there after LTCG. If you are going to buy an other house or flat, this purchase itself will save from capital gain in both situation.

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