swapan (businessman) 18 April 2014

Stcg / date of acquisition of property

Dear all, seeking opinion on the matter stated below:

I own 4 flats out of which 2 were bought in the year 2007.

The other two flats were allotted by the builder in may, 2010, registration was done in June 2011 and I took possesion of the same in April, 2012.

Now I wish to sell all these 4 flats and buy a bigger residence.

My question is :

1. Whether I will be exempted from any type of tax (LTCG/STCG)?

2. For the newer two flats what would be date of acquisition of these two flats?

Kindly help

Thanks,

Swapan

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 18 April 2014

Enter your data as per the following and calculate your self.

Financial Year of Acquisition of the Immovable Property
Cost Inflation Index for the Year of Aquisition
Financial Year of Sale / Transfer of Property
Cost Inflation Index for the Year of Sale / Transfer
Purchase Price of the Property
Add: Expenses for the acquisition (e.g. brokerage paid, registration charges and legal expenses)
Cost of Acquisition of the Immovable Property
Indexed Cost of Acquisition of the Immovable Property
Full value of consideration received for Sale / Transfer
Less: Expenses incurred on transfer of the property (e.g. brokerage paid, registration charges and legal expenses)
Net Value of Consideration