Help needed for LTCG applicable

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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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On 31 March 2025 at 11:23 Report
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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.

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SEO Sai Gr. Hosp.
121404 Points Posted on 31 March 2025

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

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On 31 March 2025 at 21:14
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Others
131 Points Posted on 01 April 2025

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

Please get it clarified by your Tax Consultant also.

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On 01 April 2025 at 16:11

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