LongTerm capital Gain exemption on Agreement of Sale document

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I have bough one apartment on 2013 for 32 lakhs and sold the same flat in 2021 Aug for 62.5 lakhs-in Pune.

When I calculate the Long Term capital gain tax then it is coming around 18 Lakhs - Hence I need to pay 20% as Long term capital gain which is around 3.6 Lakhs.

 

Now I Have booked a new flat at Hyderabad , which is under construction and will be handed over after 3 years.

I have done a Agreement of Sale with the builder now , but actual Registration-Sale deed will happen during handover.

 

My Query is How Can I claim Long term capital gain exemtion?

IS Agreement of sale considered or DO I need to do registration to claim the exemption?

 

Please Help.

 

Thanks,

Samar Pradhan

TaxPayer

Replies (1)

First of all its .... " possession of flat .....after 3 years"........ because of that  you cannot get deduction u/s. 54.

For registration. its not much binding, provided you are paying installments based on sale agreement.

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