In 2008, I bought an apartment and received a provisional allotment letter from Kolkata. But the ownership of that apartment was not passed to me until 2017. I still haven't registered it though. When I asked the builder how I could sell this apartment, he told that I should register under my name first.
So, Considering I register this flat in January 2018, the cost of purchase in 2008 being Rs 65 lakhs and the expected value of sale Rs 95 lakhs.
Will this property be termed as "long term capital asset" or "short term capital asset"? What will be my tax liability regarding the same?
Jan. 05, 2018