Capital gain query of builder's flat

Dear Deepak,

For CG purposes - Date of completion of construction or the date of possession will be crucial. (dont think there will be much difference between these two dates)

Cost will be indexed from the above date.

If right is sold before completion of construction or possession then it will be treated as Capital gain & whatever sum you have paid since beginning shll be treated as Cost of Acquisition.

To determine the nature of this capital gain i:e short tem or long term, agreement clauses has to be referred i:e upon payment of which installment assessee has got this right in the scheme.(cos sometimes there are some intial booking amount, which doesnot confer any right unless investor pays 1st big instalment)