LTCG ON PROPERTY SALE

hi sir, actually i have a industrial plot in noida- lease deed in dec 2009 possession date is jan 2010 allotment date is jan 2009 I want to sell it now by taking full white money because i had found a party with good deal.but i know that there is no tax saving method in this case because of short term gains. Now i think that (if buyer agrees)i can transfer it temporarily by power of attorney now and take full white money now & then in jan 2013, i will transfer it through registry process so that long term gain arise and then by claiming sec 54f and 54ec benefits simultaneously, i can save tax fully. Is my planning right.Will it be safe for me. please guide in detail.

asked Mar 08 '12 at 02:49 by Anand Rungta 1234


You can make a sale agreement now and do sale deed in Jan 2013. But issue may arise you give possession of property before Jan 2013. You should not issue any possession/handover letter before Jan 2013 to avoid any issue.

You can accept payment now and mention schedule for same in sale agreement. You may consider not accepting full payment now and save some amount to be paid in Jan 2013.

answered Mar 09 '12 at 14:20 by pankaj 5.2k320

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Asked: Mar 08 '12 at 02:49

Seen: 1,122 times

Last updated: Mar 09 '12 at 14:20