Nettet3. jan. 2024 · In that event, when the building and the land appurtenant thereto are transferred together, the gain arising out of the transfer of land will be a long term capital gain provided the assessee satisfies the holding period for more than 24 months after 1-4-2024 and 36 months prior to 1-4-2024. Though the assessee satisfies the same … Nettet12. aug. 2024 · he gift the property to his son B in 1986-87. B made improvement in said property rs. 1 lakh in year 2005-06 and he gift the property to his son in 2011-12 and …
Owner must act within 12 years or squatter will get rights: SC
Nettet6. feb. 2024 · Any other transaction which has the effect of transferring or enabling the enjoyment of an immovable property whether by way of becoming a ... So for B, the … Nettet22. apr. 2024 · A commercial property holding period is simply the amount of time for which an investor plans to “hold” an asset. It begins on the day that the property is … massimo sechi
Immovable property: Period for long-term gains cut to 2 years
Nettet4. nov. 2024 · Any immovable property held for a period of more than 24 months is classified as long-term capital asset. For inherited property, the holding period would … Nettet16. feb. 2024 · UPDATE (Sept. 8, 2024): According to an amendment in the Income Tax Ordinance 2002 through the Finance Act 2024, the holding period and tax rate on CGT has been reduced on the disposal of immovable property.For your understanding, a longer holding period means that a property was not bought for the purpose of … Nettet1. feb. 2024 · To qualify for long-term asset, an assessee is required to hold the asset for more than 36 months subject to certain exceptions, for example, the holding period of 24 months has been specified for unlisted shares. With a view to promote the real-estate sector and to make it more attractive for investment, it is proposed to amend section 2 … date pascaline