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Capital gain on agreement to sale?

This query is : Resolved 
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(Querist)
26 July 2024 Hello
Scenario:
If a person (say Mr A) purchases an apartment in a real estate project during launch for an amount of 10 lacs by entering into purchase agreement with the builder and holds the agreement for 2 years without doing actual registry of the property.

After 2 years (which would qualify the property as long term) Mr A sells the property to another person (Say Mr B) say for 20 lacs and the builder does actual registry of the flat in the name of Mr B.

Now will the gains of Mr A of Rs 10 lacs qualify as long term capital gain and be taxed as per new amendments at 12.5% or will it be IFOS since actual registry of the flat is not done?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
26 July 2024 It will be taxed at 12.5 if sold/transferred after 23.07.2024.
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divyam taparia

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divyam taparia (Querist)
26 July 2024 What is the basis for your reply?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
26 July 2024 Agreement for purchase.
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