Long term capital gain or short term capital gain

My father was alotted a plot by housing cooperative society in 1988 for 999 years lease now he wants to convert it in to freehold registry by society on his name only 
If we sell it after few months of new registry than capital gain earned on property will be short term one or long term one. Kindly enlighten me
Asked 2 years ago in Capital Gains Tax from Kanpur, Uttar Pradesh

Ask a Question

Get tax advice from top-rated chartered accountants. It's quick, easy, and anonymous!
Ask a question

Other questions asked by this user

Other Questions

Chartered Accountants

Lakshita Bhandari
CA, Mumbai
892 Answers
5.0 on 5.0
Abhishek Dugar
CA, Mumbai
2348 Answers
5.0 on 5.0
Rohit R Sharma
CA, Mumbai
1982 Answers
5.0 on 5.0
Keerthiga Padmanabhan
CA, Greater Mumbai
764 Answers
5.0 on 5.0
B Vijaya Kumar
CA, Hyderabad
820 Answers
5.0 on 5.0
Vivek Kumar Arora
CA, Delhi
155 Answers
5.0 on 5.0
Nikhil Khanna
CA, Mumbai
122 Answers
5.0 on 5.0
Sunny Thakral
CA, Delhi
106 Answers
5.0 on 5.0
Vidya Jain
CA, Kolkata
452 Answers
4.0 on 5.0
Lalit Bansal
CA, Delhi
436 Answers
5.0 on 5.0