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Help needed for LTCG applicable

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Abhinav Bhushan

Analyst

21 Points Posted on 31 March 2025

I booked a flat in 2009, However no construction happened till 2025. Post which I was forced to liquidate the asset.

How much income tax payable for flat (booked in 2009). If there some tax rebate available as builder failed to construct:

1st installment paid by me on 07 Aug 2009 = 199690
2nd installment paid by me on 25 Feb 2016 = 200000
Additional misc expenses for the property in 2017 = 25000

Sale amount received on 07 Feb 2025 = 1400000

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Quick Summary

This discussion seeks help regarding Long Term Capital Gains (LTCG) tax applicable to a property booked in 2009 but sold in 2025 due to construction delays. The user has provided details of payments made and the sale amount, inquiring about the tax payable and any potential rebates due to the builder's failure to construct. Advice suggests calculating LTCG on a pro-rata basis and consulting a tax advisor for clarification.