Capital Gains Tax for 2015-16

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  1. Rajnish Chopda

    Rajnish Chopda New Member

    Sir...Date of aquisition of Under construction property is from date of Purchase of Date of Possession???

    Date of Purchase is 15 March 2012 and Date of Possession is 30 June 2014. Capital gain tax is to be calculated from which date??
  2. J P Gujar

    J P Gujar New Member

    As far as I know if the flat is sold within 3 years from date of obtaining completion certificate it is a short term capital gains and if sold after 3 years it is long term capital gains.
    For short term the u r taxed as per your tax bracket and entire sale proceeds is taxable and for long term it is 20 % of the capital gains after indexing.
    So if you sell after 3 years of completion you can claim benefit of indexation.
  3. Parul_Gupta

    Parul_Gupta Active Member

    @Rajnish Chopda : Period of Holding is considered from the date of allotment i.e. the date of purchase.
  4. J P Gujar

    J P Gujar New Member

    If my long term capital gains on real estate as per the latest CII of 1081 is about Rs. 15,00,000 I have to pay long term capital gains tax of 20 % i.e Rs. 3,00,000.

    Can I save this tax by investing the capital gains of Rs. 15,00,000 in property/ land.

    Regards and thanks,

    J P Gujar
  5. Yatin Gandhi

    Yatin Gandhi Active Member

    @J P Gujar : Yes, you can claim Capital Gains Exemption for Reinvestment of Capital Gains in another house property
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