banner_ad

Help needed for LTCG applicable

Tax queries 272 views 2 replies

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

Replies (2)

LTCG is charged at 12.5% and you are not eligible for indexation.

Most probably you have to calculate LTCG on pro rata basis for 3 expenditures.

Please get it clarified by your Tax Consultant also.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details