Under construction property Capital gain

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  1. mohd arif khan

    mohd arif khan New Member

    I have booked a under construction flat in march 2013, agreement is done by builder in April 2013.
    Now i want to sell it, possession is not taken yet of the flat.
    so its already 3 years of holding. So if i sell now so would it come under LTCG or STCG.

    I read many forums and people are saying that yes you can claim LTCG. Please confirm this.
    Second questions is payment is done in installment and where some amount may be 1 lacs is still pending. So suppose property cost is 50 Lacs..i paid 25 Lacs 1st year, 20 Lacs second year and 5 Lacs 3rd year. and now selling it at 65 Lacs..

    So how would i compute LTCG.

    please help.

    thanks & regards,
    Arif
     
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