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Selling a flat? Keep an eye on dates
My brother booked a flat by paying an advance of Rs 3 lakh on April 30, 2005. He paid Rs 6 lakh in four instalments in financial year 2005-06. He paid the balance sum of Rs 2.50 lakh while registration on April 15, 2006, and took possession of the flat in May 2006. He sold the flat on May 5, 2008. FBT abolition: Burden shifts from employer to employeeWill the gain on sale of the flat be treated as
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