Dear Sir,
I have sold a flat as long term asset and have capital gain of around 18L.(after indexation) I have booked another flat with builder and paying money as per construction. As per payment schedule I will be paid him more than Rs 18L before I file income tax return for this year and hence I do not need to open capital gain account with bank.
My question is as per builder the flat will be ready in 4 years and hence registration will happen in four years. So am I eligible for long term gain adjustment aginst this property (as registry will happen after 4 years) or I have to pay tax.
Regard
Dinesh
CAclubindia
