Long term capital Gain on Constructed Property

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  1. chandan senapati

    chandan senapati New Member

    Dear Sir
    I am member of upload_2016-7-11_10-55-39.png ( Reg ).
    We made MOU with builder for purchasing flats ( under constructed ) on 17-April -2014 and each member paid 1 lakh advance.

    - .On April 2015 ( after final price negotiation ) we started paying instalment and 2nd last instalment ( 90% of property value ) was paid Dec 2015.

    -I have taken Loan from LIC . EMI has started from June -2015 onward

    -Possession expected June 2017

    I am planning to sell my Flat and avail long term capital gain benefit .( I want to re invest it ) .

    I want to know the date after which if I sell my property it will be eligible for capital gain benefit.
     
  2. ZED

    ZED Well-Known Member

    I recommend that date of allotment letter be taken as date of acquisition of the property and the period of holding be computed accordingly.
     
    chandan senapati likes this.
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