Capital gain for underconstruction flat
This query is : Resolved
21 July 2012
Hi
I booked from builder under construction flat in Aug 2006 . It will be ready for posession in Oct 2012 . I want to know the following .
1) If I sell before possession , will the gain be LTCG ?
2) If I sell immediately after possession ( means after registry in my name ) , will the gain still be LTCG or I have to wait another 3 year after possession to avail LTCG ?
Please clarify .
Thanks
I booked from builder under construction flat in Aug 2006 . It will be ready for posession in Oct 2012 . I want to know the following .
1) If I sell before possession , will the gain be LTCG ?
2) If I sell immediately after possession ( means after registry in my name ) , will the gain still be LTCG or I have to wait another 3 year after possession to avail LTCG ?
Please clarify .
Thanks
21 July 2012
i) No
ii) No, have to wait 36 months from month of possession to become LTCG.
ii) No, have to wait 36 months from month of possession to become LTCG.
Message likes :
1 times
21 July 2012
I am getting conflicting views on this . I will request more views on my query .
21 July 2012
My observation is based on the decision of Andhra Pradesh High court in the case of CIT Vs Shahzada Begum reported in 173 ITR 397.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Transport service POS
- GSTR 9C- Table 9
- E INVOICE, E-WAY, INVOICE
- To Whom the Invoice should be Raise to
- INCOME TAX NOTICE QUESTION
- Sale Proceed of Urban Agri. Land received in Advance in FY 24-25 but Registry is made in next year
- Whether to file ITC 03 for downward GST rate revision - Reg.
- When was the effective CA partnership deed? Can I use old FRN until new FRN alloted by ICAI?
- Capital gain on sale of resident house by non-resident Indian
- PLACE OF SUPPLY FOR COMMISSION AGENT
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
