Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2014
THE PROPERTY PURCHASED IS UNDER CONSTRUCTION REGISTERED AGREEMENT ENTERED 39 MONTHS AGO BY PAYING Rs 30 LAKHS SUBSEQUENT PAYMENT MADE Rs 60 LAKHS OVER A PERIOD OF 3 YEARS. BALANCE PAYMENT OF Rs 10 LAKHS TO BE GIVEN ON POSSESSION OF FLAT. QUERRY IS IF I SELL THE PROPERTY BEFORE TAKING THE POSSESSION HOW WILL BE THE CAPITAL GAINS BE TREATED,AS REGISTERED AGREEMENT IS EXECUTED 39 MONTHS AGO. WHETHER CLAIM CAN BE TAKEN u/s 54/54 F.
Nitin Bhuta
(Expert)
14 June 2014
Since agreement is registered 39 months you can claim benefit under section 54F and not under section 54.
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