Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 April 2014 Suppose i had purchased a house property 4 years back and the said property is still under construction and now i want to sale the said property but remember the property is still under construction.Kindly suggest me the implication of Capital Gain under such situation.Can any one suggest me any Court judgement/Decision for the same.

Thanks in Advance
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
25 April 2014 it will be a long term capital gain even if the property is not fully built and under construction.
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 April 2014 but as my construction is not completed i had still not got the possession of the said property.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
25 April 2014 even in such case if the proeprty is in ur name and u sell it still capital gain attracts.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 April 2014 Profit on land is LTCG and profit of the
building construction cost not more than 36 months is STCG.
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 April 2014 Thank u very much for suggesting me
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