sir
i have bought a flat on 2.9.12 BY 9LKHS. .it will be 3 yrs on 2.9.15. NOw i want to built a house of my own .MY QUESTION IS -
I WILL SALE THE FLAT AT 16 LKHS.IF I TAKE AN ADVANCE OF 6 LKHS from the buyer now and start construction and sell the flat after 2.9.15 ,will it fulfil the condition of LTCG tax.
pls. reply soon.
| Originally posted by : Raja | ||
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sir i have bought a flat on 2.9.12 BY 9LKHS. .it will be 3 yrs on 2.9.15. NOw i want to built a house of my own .MY QUESTION IS - I WILL SALE THE FLAT AT 16 LKHS.IF I TAKE AN ADVANCE OF 6 LKHS from the buyer now and start construction and sell the flat after 2.9.15 ,will it fulfil the condition of LTCG tax. pls. reply soon. |
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Date of sale will be the date of registry/possession. So you can take advance on the basis of sale agreement and make sure your registry is done after 02.09.2015 but i dont think dealer will agree for the same.
Hi Raja, yes you can take the advances for sale by mentioning in the sale agrrement. But registry and possession both should be after date of 02.09.2015.
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