House Property Bought from Own Funds and than Sold

[Guest]

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.

AI Summary

Clarification Sought on Tax Implications for Flat Sale at Registered Price: Personal vs Business Capacity Impact An individual inquired about the tax implications of selling a flat purchased with personal funds. They asked how to treat the sale proceeds and whether selling the property at the same price as the registered sale deed would result in short-term capital gains, given the sale occurs on the registration date. The response sought clarification on whether the transaction was conducted in a personal or business capacity.