I purchased an underconstruction property in Feb 2015 from a builder. Payment was construction linked. Received possession in May 2019. Now, I want to sell the property.
Have following questions for estimating capital gains from sale of this property.
1. How to estimate cost of acquisition for the property since full payment was done in installments ( slab-wise payment) and every financial year some payment was made till possession.
2. Also, how to account service tax/ GST in cost of acquisition, as during the period, there were changes in service tax rates and introduction of GST as well.
3. Also, there were club charges + advance maintenance. Can we consider them in cost of acquisition?
Kindly help.
Its construction linked agreement, possession received in 2019, so need to consider indexation based on payments in each financial year.
CAclubindia
