Flat sold 10 days after registration: How an allotment letter helped an NRI claim long-term capital gains tax benefits

An ITAT Surat ruling has held that an NRI's property holding period began with the 2011 allotment letter, not registration in 2016.

This decision is significant for NRIs selling property in India, as it can help them claim long-term capital gains tax benefits.

The ruling emphasizes the importance of keeping allotment documents when determining the holding period for property sales.

However, this ruling may not directly impact seafarers, as it primarily concerns real estate transactions.