Capital Gains on under construction Residential Flat

I bought an apartment in Mumbai when it was launched in Jan 2008 and the possession is only due this July. If I were to sell the apartment now, before completion or before formation of the building society, what capital gains implications would it have.

asked Jun 15 '11 at 07:26 by niraj 1111

If you sell flat before completion of three years after possession or registration, it won't come under long term capital gains. In that case, whatever profit you make will be added to your taxable income and it will be taxed as per your slab rates.

answered Jun 16 '11 at 21:11 by pankaj 5.2k320


Know someone who can answer? Share a link to this question via email, twitter , or facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text]( "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Jun 15 '11 at 07:26

Seen: 1,941 times

Last updated: Jun 16 '11 at 21:11