Quote: I am an NRI. I hold an apartment in Thane (Mah). It was purchased by me on construction based progress payments. The property was registered in the year 2010 for a value of Rs 56lacs when construction was going on. Final possession is due next month ie Oct 2015. I am planning to dispose the same off.
My queries are:
(b) What is the date of acquisition to be considered? date of regn - (2010) or date of getting occupation certificate (2015)?
(a) How will the capital gain, if any, be termed? Short term or long term.
(c) What will be the tax rate?
Thanks and Regards
Ram
