Legal Question in Real Estate Law in India

I have booked a flat in noida in June 2009. The payment is being made by taking a loan from bank. I have not yet got the possession. Pl guide me about the capital gain tax I may have to pay if I sell the flat in October 2011


Asked on 10/05/11, 8:37 pm

3 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

The capital gains tax will be applicable and determined at the time of sale. You may contact your tax attorney after transaction is completed.

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Answered on 10/05/11, 11:31 pm
Shrichand Nahar S.V.Nahar, Advocate

It may be a short term capital gain. Be guided by your CA in this behalf.

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Answered on 10/07/11, 10:39 pm
Sanjay Kalra Sanjay Kalra & Associates

You are not required to pay capital gain tax ,if you reinvest the sale proceeds of your flat within 3 years of your sale in immovable property.

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Answered on 10/08/11, 3:24 am


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