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Resale of apartment under construction how much tax I have to pay
04-Oct-2023 (In Property Law)
Hello Sir/madam, I bought an apartment under construction 4 years back and it is still under construction and not yet given for possession.It is not yet in livable condition and builder mentioned that it will take another 3 months to complete it.If I sell my apartment which is still in construction from last 4 years how much tax wil I need to pay ?
Hi
Since the apartment is yet to be handed over to you, technically you are not in possession.
However Nothing stops you from selling the property and claim capital gains deductions under section 54 of Income tax act from your future home purchases.
Hope this helps
Since the apartment is yet to be handed over to you, technically you are not in possession.
However Nothing stops you from selling the property and claim capital gains deductions under section 54 of Income tax act from your future home purchases.
Hope this helps
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Adv. Rajagopalan
Hyderabad | 500+ Answers
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