Sale of under construction flat and re-investment in new

Sal (A) (53 Points)

07 June 2015  

Hello Experts,

There are quite a few posts but I am unable to find an answer. I purchased an under-construction apartmnet in Dec, 2010. The cost was ~30 lacs. Builder buyer agreement and allotment letter were created at the same time i.e. Dec, 2010. The payment was done in various installments, I have not yet taken the possession of the apartment as it is not yet complete.

I have sold the apartment last week (May 2015) at around ~50 lacs. I understand that Long Term Capital gain taxes will apply here. 

I have 3 questions:

a.) Would all the installments that I have paid to builder come under LTCG or does it depend on the date of installment ?

b.) Can I deduct brokerage and builder-transfer fees from the capital gain ?

c.) I booked another apartment in 2013 and I have taken ~60 lacs home loan against that. Can I adjust my LTCG u/s 54/54F by paying back the home loan ?

Thanks in anticipation for your replies !