Can anyone tell me, what are the tax benefits available for under construction property, which is financed by bank loan?
Additionally what are the implication if,
1. If the property is sold before taking of possession?
2. If the property is sold after taking of possession?
according to my openion
normal capital gain will be applied
Short Term capital Gain, if asset sold within 3 yrs. (normal slab rate will be applied)
and Long Term Capital gain. if sold after 3 yrs. (flat 20% tax rate will be applied)
CAclubindia
