House Property Bought from Own Funds and than Sold, Income Tax

[Arpit Jain]

Could you please advise how to treat the amount received from sale proceeds of a flat for which the amount was paid from own pocket?

Second Question: In case I sell the flat on the same price on which I get the sale deed registered to buyer, how the amount received will be treated? This will be a case of short term capital gains. As I will sell the property on the same date on which I will get it registered in my name.

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whether the transaction is in the individual capacity or in the capacity of business?