Dear Sir,
I have invested in a property thru my capital gains account after selling one of my old properties to avoid LTCG tax on the amount received after selling that property. The project in which I invested is under construction since the time I invested in 2013. There are no signs of project getting completed. I did registration of this property in Jan 2019. Invested amount is 25 lacs and current market rate is 40 lacs. If I manage to sell the property now, will I be liable to pay capital gains tax again ? LTCG tax is applicable 2 yrs after possession or 2 yrs after registration ? 8 years have been completed after booking the flat in Feb 2013 and if builder is not giving me possession, I have to move out of the project. There is no option.
CAclubindia
