Hi,
I have a long term capital gain of 30 lacs after indexation and the total sale consideration is 1.9 cr. (Sale date June 1, 2024)
I have already purchased a under-construction flat worth 2 cr on April 10, 2024 and the possession date is December 31, 2027.
How early can I sell this new flat and also get the tax benefit claimed earlier while purchasing this new flat.
Not before 01.01.2031....
The possession of this under construction flat is not within 3 years from the date of purchase. Can I still claim tax benefit from this?
Legally not, but there are case laws supporting assessee in such case.
Thanks for your valuable input.
You are welcome...
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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