TMI BlogLong Term Capital GainsX X X X Extracts X X X X X X X X Extracts X X X X ..... I will get a Long Term Capital Gain of around 1 Crore on selling property A now. I booked an under-construction property B on April 2012. Agreement value is just above 1Crore. Construction sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rted on June 2012. Registration was done on June 2014. Construction is almost over now. I m yet to get the keys and possession letter. I have made 90% payment. As per my understanding, accordi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng to Section 54 , to claim exemption from Long Term Capital Gain Tax, A new residential property must be purchased either 1 year before the sale or within 2 years after the sale of the propert ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y/asset. Or the new residential house property must be constructed within 3 years of sale of the property/asset Can I claim exemption from sale of property A, if I sell it now and get possessi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of property B in the next two months? Please advise. Regards, Ramesh - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Whether my presumption is correct? You are in possessi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of property A which is going to be sold by you. You want to claim exemptions from capital gains tax by getting the possession of property which has been booked prior to the sales of A? - Long Ter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m Capital Gains - Query Started By: - Ramesh M Dated:- 19-12-2015 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Managem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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