Capital gain

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What is a tax treatment of Capital Gain on sale of under-construction property?? Under construction property is held for last 4 years and possession is not received till date??
Replies (2)
Yes quite a tricky question. How do you sell an "under- Construction Property". You would not have received any documents to title yourselves!. So in the strict sense it cannot be sold. Your rights under the agreement of construction can be transferred to another person. In such a case you can treat the date of agreement as the date on which you acquired the rights under the agreement and classify as long term or short term accordingly. Any surplus over and above the payments made by you to the builder will be capital gains
Thanks... Yes it was about sale of Right to Own the property.


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