Ltcg

Deepak Walia (Not Applicable) (133 Points)

02 February 2017  
I purchased one residential ready to move builder floor for which both registration and possession took place on 25th May 2015. Now I intend to sell the same with a view to buying another residential flat. Further I want to make my tax liability to zero by taking benefit of LTCG u/s 54. Further in view of the budget provision of holding period for computing Long Term Capital Gains on land & building reduced from 3 years to 2 years. Can I sell my builder after 25th May 2017 when my holding period will complete 2 years from the date of possession/registration!