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.
1 Answers
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.
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