Capital gain on a flat
This query is : Resolved
23 November 2016
Dear sir We booked an under construction flat as a joint property by my and my husband s name with proper allotment letter and agreement in December 2011 But till date we haven't taken the possession but we have paid all the instalments Now we have decided to sell the flat I wanted to know about the capital gain on our property Can we be exempted from the tax if invest the gained profit within a year or soThanks
24 November 2016
It will be a long term capital gain. You can avail exemption u/s 54F.
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