Income Tax on under develop property, Income Tax

[nishant thakkar]

Hi Friends,

How tax is applicable on under develop property, If we sell the same before getting possession ? I wanted to purchase the new property from the proceeds of the current one which i want to sell. So will i get exempted from tax than?

And what all documentation required to sell the same? Can i sell it before making agreement?

Regards

Nis

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

The fact of the case is still to be elaborated.