Taxability  of Capital Gain on sale of  under construction property, Nature of Gain, Date of Indexation, Availability of benefit under section 54 or 54EC

Background –Developer engaged in the business of Property invites buyers for purchase / bookings of property at much earlier stage than construction thereof. Accordingly, the intended buyers book the property rights and advance payment for booking is made. Further, payments are made to the developer as and when demanded and also with the progress in the construction. Possession of the property is made available to the intended buyers after 3-4 years of the booking and may be sometime even longer period.In between many times intended buyers transfer their rights to other parties. Similarly, many buyers transfer the property after they have obtained possession from the developer. The issue normally arises in the context of transfer of rights in the property under construction as well as transfer of property after taking the possession thereof as regard the point whether gain on transfer is short term or long term. In other words, question normally arises as regards date of acquisition of rights in the property. In this context it is stated that at the stage booking is made by the intending buyer with the developer many times even the specifications / description of project are not available and confirmation as regards the property rights is given by the developer after a lapse of time. In this regard one view can be that the intended buyer has acquired the rights as soon as he has given the initial advance though specification in regard to project / property are not available. The other view can be that the right would come into existence when the developer confirms the bookings and issue necessary allotment letter to the intended buyers after the project has been properly described. It is stated that the date of acquisition of the rights would depend upon facts of each case and the documents executed / provided by the developer to the intended buyers. In case of initial advance if there is no commitment or allotment by the developer, same may not amount of acquisition of rights in the property. Property rights may generally be acquired by the intended buyer only when an allotment letter specifying the project etc. has been issued.

In case the intended buyer transfer his rights in the property during the period when construction is in progress and he has not obtained possession of the property, the right of the buyer would be in the nature of capital assets and accordingly, gain arising on such transfer would be in the nature of long term or short terms gain depending upon the period of holding.

In case of transfer of property after possession has been obtained by the buyer from the developer on construction of the project, a question normally arises whether the period prior to taking of possession of the property, during which period  it  was  only the right available to the buyer,  is  to  be  reckoned  for  the  purpose  of  determining whether the capital gain is short term or long term or not. In this regard contention is normally raised that rights in the property is a capital asset of different nature than the property. Therefore, period prior to taking of possession is not to be considered. It is, however, stated that the buyer gets possession of the property in continuation of his holding of right in the property. It cannot be said that in terms of Section 2(47) of the Act assessee has transferred his rights in the property held earlier to acquire the actual property. It is not a case of sale or exchange. Buyer continues to hold the capital asset. Only its form changes on getting actual possession of the property. Therefore, it cannot be said that period of holding would be counted only from the date of getting the possession. Accordingly, the earlier period is also to be counted for the purpose of determination of nature of the capital gain, whether short term or long term.

PREFACE-

You have approached us to give opinion on the question related to capital Gain on Sale of Flat, which was booked under construction and sold after receiving the possession of the same.  You have submitted us the following documents:-

1. Payment Receipt From the Builder as per details given below :

Receipt Dated Rs. Remark
No.      
351 21.06.2007 887400 Flat on 2nd Floor
456 06.09.2007 295800 Flat on 2nd Floor
487 30.09.2007 295800 Flat on 2nd Floor
606 12.12.2007 500000 Flat on 2nd Floor
625 31.12.2007 500000 Flat on 2nd Floor
626 31.12.2007 53800 Flat on 2nd Floor
634 31.12.2007 500000 Flat on 2nd Floor
690 11.03.2008 261600 Flat on 2nd Floor
691 11.03.2008 500000 Flat on 2nd Floor
770 21.06.2008 210800 Flat on 2nd Floor
1171 24.03.2011 210800 Flat on 2nd Floor
1172 24.03.2011 160000 Flat on 2nd Floor (Society Deposit)
TOTAL   4376000

2. Demand Letters From Builder as per detail given below:-

Dated Demand Amount
14.08.2007 1220600
23.08.2007  1421400
12.01.2008 761600
07.02.2008 761600
24.05.2008 210800
4376000

3. Allotment Letter from Builder dated 21.06.2007.

4. Photocopy of Sale Agreement with Builder dated 31.12.2009 which got registered on 01.02.2010 showing stamp duty Payment of Rs. 2,02,650/- and Registration Charges of Rs. 31,500/-.

5. Sales Agreement dated 07th July 2011 which registered  also on 07.07.2011 for Rs. 1,00,80,000/-

6. Reply from Builder in respect of our request for possession dated 25.03.2011 which seems to be possession letter too although explicitly it’s not a possession letter.

FACTS OF THE CASE

  • The Assessee is a individual who has booked a flat with a Builder in Malad (W) on 21.06.2007 and Builder has given the Allotment letter on the same date.
  • Total Agreement Value of the Flat is Rs. 42,16,000/- which Assessee has paid in Ten Installments spread over financial Year 2007-08 and Financial Year 2008-2009.
  • In addition to above Assessee has incurred the following expenditures in respect of Purchase of above property:-
Date Nature of Payment Rupees
31.12.2009 Stamp Duty 2,02,650/-
01.02.2010 Registration Fees    31,500/-
24.03.2011 Society Deposit   1,60,000/-
Total     3,94,150/-
  • Assessee’s Agreement for Purchase of this Property got registered on 01.02.2011.
  • Assessee Receives possession of the Flat on 25.03.2011.
  • Assessee Sold the Flat on 07th July 2011 for Rs. 1,00,80,000/-.

QUESTIONS ASKED BY THE ASSESSEE :-

  1. Whether the Right to own the Property is a Capital Asset ?
  2. Whether Gain on sale of Flat will be short Term or Long Term?
  3. If the Gain is long term how the indexed cost will be calculated?
  4. Is there a way Assessee can save tax on Gain on Sale of Flat?

OUR OPINION:-

1. Whether the Right to own the Property is a Capital Asset?

Bombay High Court has explained definition of capital asset as defined u/s 2(14) of the I T Act in the case of CIT vs Tata Teleservice Ltd 122 ITR 594  and has held as follows :-

What is a capital asset is defined in section 2(14) of the I.T. Act, 1961. Under that provision, a capital asset means property of any kind held by an assessee, whether or not connected with his business or profession. The other sub-clauses which deal with what property is not included in the definition of capital asset are not relevant. Under section 2(47), a transfer in relation to a capital asset is defined as including the sale, exchange or relinquishment of the asset or the astonishment of any right therein or the compulsory acquisition thereof under any law. The word “property”, used in section 2(14) of the I.T. Act, is a word of the widest amplitude and the definition has re-emphasised this by use of the words “of any kind” Thus, any right which can be called property will be included in the definition of “capital asset”. A contract for sale of land is capable of specific performance. It is also assignable. (See Hochat Kizhakke Madathil Venkateswara Aiyar v. Kallor Illath Raman Nambudhri, AIR 1917 Mad 358). Therefore, in our view, a right to obtain conveyance of immovable property, was clearly “property” as contemplated by section 2(14) of the I.T. Act, 1961.

Other case law on the same issue favoring the above views of Bombay High Court are as follows:-

i. CIT v. Sterling Investment Corpn. Ltd. [1980] 123 ITR 441 (Bom.).

ii. ITO v. Smt. Kashmiraben M. Parikh [1993] 66 Taxman 31 (Ahd.) (Mag.).

iii. Tribunal order in ITA No. 3923 (Mum.) of 2002 for assessment year 1995-96 in the case of Mrs. Manju Agarwal v. Asstt. CIT, Mumbai ‘C’ Bench order dated 16-9-2004.

vi. Jitendra Mohan v. ITO [2007] 11 SOT 594 (Delhi).

CIT vs Jindas Parchand Gandhi (2005) 279 ITR 552 (Guj)

 In our case as allotment letter issued by the builder dated 21.06.2007 gives us the  right to obtain conveyance on the said flat so it become an assets under section 2 (14) of the Income Tax Act, 1961.

2. Whether Gain on sale of Flat will be short Term or Long Term?

An asset which is held for 36 (24 wef P.Y 2017-18) months is a long term asset.

Whether it is held for 36 (24 wef P.Y 2017-18) months?

Once the right to purchase ( i.e obtain conveyance ) proved to be an asset, it is to be seen when was this right vested in the purchase.

Hon’ble Andhra Pradesh High Court in the case of M. Syamala Rao v. CIT [1998] 234 ITR 140 held that registration of a document related back to the day on which the agreement of sale was executed, hence, when the builder executed the agreement of sale on 7-8-1993, the assessee was to be deemed to be owner of property from that date and, accordingly, the capital gain was to be worked out.

In our opinion, the date of allotment is the date when the right of conveyance get vested. So, if there is difference of 36 months in this date and date of sale , then it can be considered that the said asset was a long term asset and gain on sale of such asset was “Long Term Capital Gains “.

In our case, the allotment date was 31.06.2007 and as such on the date of sale, this right was held for more than 36 months so gain on sale of  Flat will be Long term Only.

3. How Indexation is to be done?

The issue gets settled by Mumbai Tribunals’ decision in case of Smt. Lata G. Rohra v. Deputy Commissioner of Income-tax, C.C. 39, Mumbai [2008] 21 SOT 541 (Mum.) where is the facts of the case were as under :-

FACTS

The assessee vide unregistered agreement with a developer purchased a flat in 1993 which was constructed in the year 1997 and registered in the year 1998. During the relevant year, the assessee sold said flat and after claiming the indexed cost at Rs. 18.74 lakhs showed long-term capital gain at Rs. 39.42 lakhs. The Assessing Officer worked out indexed cost of acquisition on the basis of purchase price from 1993 and completed the assessment. However, the Commissioner was of the view that the assessee had not filed any evidence with respect to various payment made towards the purchase price and the indexed cost of acquisition worked out on the basis of financial year 1993 was incorrect and, hence, the assessment order was erroneous and prejudicial to the interest of revenue. Accordingly, he initiated revision proceedings under section 263.

The Commissioner, however, set aside the order of Assessing Officer and directed the Assessing Officer to compute the correct long-term capital gain by adopting the indexed cost of acquisition on the basis of the date on which the property was held after registration of the conveyance deed. In instant appeal, the assessee contended that she was deemed to be owner for property from 7-8-1993 and, accordingly, the capital gain was to be worked out from that date as per Explanation (iii) to section 48, and since the asset had been held for the first time in 1993, cost inflation index of that year was to be applied on the total purchase consideration payable by the assessee as per agreement regardless of the dates of the actual amount paid by her.

HELD

As per section 2(14), read with section 2(14)(vi), the rights in flat, acquired by the assessee on execution of purchase agreement on 7-8-1993, came within the purview of the term ‘capital asset’. From the perusal of language used in Explanation (iii) to section 48, which provides for manner of computation of indexed cost of acquisition, it is apparently clear that it refers only to date of cost of acquisition of the asset and not actual payments made by the assessee. Hence, there was no merit in the contention of the revenue that the benefit of indexation should be given on the basis of dates of actual payments made by the assessee. Thus, on merits, the issue was covered in favour of assessee. However, regarding jurisdiction for invoking the provisions of section 263, it was found that the assessee filed necessary details before the Assessing Officer and the Assessing Officer had passed assessment order after taking into consideration the same. Hence, merely for the reason that no specific findings had been given in the assessment order, the same could not be said have been passed without application of mind. In this view of the matter, the order under section 263 passed by the Commissioner was to be set aside. [Para 9] In the result, the appeal filed by the assessee stood allowed. [Para 10]

So in our case we will take the index of the year in which Assessee receives allotment letter of the Flat i.e. 2007-08.  In respect of Stamp Duty, Registration Charges, Society Deposits we will take index of the year of payment. If Assessee has incurred any other expenses in respect of Purchase of property in addition to these in respect of those expense also we take index of the year of expense for calculation of Long Term Capital Gain as what tribunal has stated above is cost of acquisition i.e Rs. 42.16 lakh which should be taken to compute the long term capital gains as the word used in Explanation to section 48 mentions “Cost of acquisition and not the actual payments.

Here we would also like to refer Judgment of Delhi ITAT in the case of Praveen Gupta vs ACIT -ITA No. 2558/Del/2010; Asst. Year 2007-08 in which Honourable ITAT has taken indexation on the basis of Payment made by the Assessee but since Assessee is based in Mumbai so for us ITAT Mumbai Judgment is more relevant and at the same time same is more beneficial to us too.

5. Is there a way Assessee can save tax on Gain on Sale of Flat?

Yes, The Provisions of Income Tax Allows the assessee to save capital gains tax on sale of a property, namely Flat in our case. This benefit is provided under Sections 54 and Section 54EC of the Income Tax Act, 1961.

SECTION 54

Condition to be satisfied to claim exemption Section 54 of the Income Tax Act, 1961.

1:   Assessee should be Individual/ HUF.

2:   The Asset should be Residential Property whether self occupied or not.

3:  The Property Should be classified as a Long term Capital Asset under Income tax Act, 1961.

4:  The Assessee purchases one residential house in India within a period of one year before or two years after the date of transfer/sale of the asset or he constructs one residential house in India within a period of three years after the date of transfer/sale of the asset.

5: In Case, if the assessee is not able to utilize the amount of capital gains for acquisition of new asset before the due date of furnishing the return of income and thereafter the assessee can deposit the same in and account with any specified bank or institution under capital Gains Accounts Scheme framed by the central government and all payment related to new assets will be made from this account.

6:   The Cost of the new purchased asset or constructed aseet should be equal to or exceed the amount of indexed capital gains earned on the sale of the property.

Where the amount of Capital gains is greater than  the cost of the new asset, the difference between the amount of capital gains and the cost of the new asset will be chargable as “ Long Term Capital Gains” of the previous year in which the asset is sold.

Conditions to Be Satisfied after availing the exemption under Section 54:

1: The Assessee should not sell the new asset within 3 years from the date of its purchase or construction.

If he does that the cost of the new asset will be reduced by the amount of capital gains exempted from tax earlier and the difference between the sale price of the new asset and such reduced cost will be “ Short Term Capital Gains” and treated as the income of the previous year in which the new asset is sold.

SECTION 54EC

Condition to be satisfied to claim exemption Section 54EC of the Income Tax Act, 1961 –  Section 54EC provides that where the capital gains arises from the transfer of the “ Long Term Capital Asset” (wef A.Y 2019-20, the said long term capital asset shall be land or building or both) , it will be exempted if the assessee has invested the capital gains in the Long Term Specified Asset subject to the following conditions:

1: Capital Gains should arise from the transfer of the long term capital asset.

2: The Assessee should invest the capital gains amount within a period of six months after the date of transfer/sale in the long term specified asset. The investment made by an assessee in the long-term specified asset, from capital gains arising from transfer of one or more original assets, during the financial year in which the original asset or assets are transferred and in the subsequent financial year does not exceed fifty lakh rupees. Capital gain shall be exempt to the extent of amount of investment in such specified bonds upto a maximum of Rs.50 Lacs.

Long term Specified Asset is defined to include any  bonds as issued by NHAI and REC and notified by the Central Govt (bond issued by power finance corp/Indian Railway Finance Corp). for a minimum period of 3 years (5 years if such bonds are issued on or after 01.04.2018)

3; The Cost of the Long Term Specified Asset is not less than the capital gain in respect of the original asset. If The cost of the Long Term Specified Asset is less than the capital gains, then only proportionate capital gains will be exempt to the extent it is invested.

Conditions to be satisfied after availing the exemption under Section 54EC:

1: The Assessee has to retain the Bonds for a minimum period of three years (5 years if such bonds are issued on or after 01.04.2018) from the date of acquisition.

2: The Assessee should not transfer or convert into money or should not take a loan against pledge or security of the Bonds that he has invested in, to avail exemption under section 54EC, during this three years.

3: If he does that the amount of exempted capital gains on transfer of original asset will be deemed to be “Long Term Capital Gains”

Of the previous year in which such long term specified asset is transferred or converted into money.                                                    

                                                        OR

Of the Previous year in which the loan or advance is taken against security of such long term specified asset. It should be noted that irrespective of the quantum of loan or advance taken, the entire exempted amount of capital gains will be brought to tax.

Where the cost of long term specified asset is also eligible for deduction under section 80C, the said deduction will not be allowed, if he takes the exemption under section 54EC.

SUMMARY –

1. Whether the Right to own the Property is a Capital Asset –             Yes.

2. Whether Gain on sale of Flat will be short Term or Long Term?  Long Term in our Case

 3. If the Gain is long term how the indexed cost will be calculated?

So in our case we will take the index of the year in which Assessee receives allotment letter of the Flat i.e. 2007-08.  In respect of Stamp Duty, Registration Charges, Society Deposits we will take index of the year of payment. If Assessee has incurred any other expenses in respect of Purchase of property in addition to these in respect of those expense also we take index of the year of expense for calculation of Long Term Capital Gain

4.   Is there a way Assessee can save tax on Gain on Sale of Flat?

The Provisions of Income Tax Allows the assessee to save capital gains tax on sale of a property, namely flat in our case. This benefit is provided under Sections 54 and Section 54EC of the Income Tax Act, 1961.

Note:

1) With effect from Assessment Year 2017-­18, period of holding to be considered as 24 months instead of 36 months in case of unlisted shares of a company,

2) With effect from A.Y. 2018-19, period of holding to be considered as 24 months in instead of 36 months in case of immovable property being land or building or both.

Also Read:

Tax on Long Term Capital Gain Under Income Tax Act, 1961

Tax benefit under section 54EC on long term capital gain

Section 54/54F & time limit for deposit/ reinvestment of capital gain

(Republished with Amendments)

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54 responses to “Tax on Sale of Under Construction Property, Indexation & Benefit U/s. 54 / 54EC”

  1. kalpataru Ghosh says:

    why PFC Bond was not mentioned for 54EC

  2. MOHAMMED FAHAD says:

    Sir,
    i purchased an underconstruction builder flat in 2012 and availed a loan in 2013. I sold the property in 2016 December at the same rate at which it was purchased and lost interest money and so on, how will that be treated under losses while filing ITR.

    The property was sold at loss due to rising costs/interest-emi burden and my financial termoils.

    please suggest

  3. Vinod Kumar says:

    Dear Experts,
    A Person is engaged in the business of purchase of land and construct the building for residential purpose (Not Flats) and the same will be sold to person interested in buying it. What are the legal formalities which need to be followed? He has not registered under any regulation.

  4. JAYANTA GHOSAL says:

    sir
    as you have set the example(mumbai) , my case is slimier to that , i have booked in 2010 @ 20lac in CLP and got the position 2016 and taken bank loan
    till date i have paid whole payment to builder and bank emi and paid 5lac interest to bank on emi and 2lac of registration

    so i have paid 20lac +5lac bank interest +2lac registration

    so how can i claim the long term capital gain index on this

    pls help

  5. Parur says:

    Dear Sir,
    I would like clarification on some tax queries regarding redevelopment of residential buildings in cooperative societies Mumbai. Facts are as below:
    1. Flat in a cooperative society acquired in 1964
    2. Tripartite Redevelopment agreement between flat owner, developer and society, registered in 2009. Developer offers additional area after redevelopment which is included in the said agreement and stamp duty on the additional area also paid at the time of registering the said agreement.
    3. Transit accommodation rent during redevelopment period paid by builder.
    4. Corpus fund compensation also paid by developer.
    5. Possession after redevelopment given in 2015.
    Following questions need clarification:
    • Tax treatment of the Transit rent
    • Tax treatment of Corpus compensation.
    • When is the earliest point in time that the redeveloped flats can be sold to enjoy the benefits of LTCG
    o Is it immediately on possession of the redeveloped flats
    o Is it only three years after possession of the redeveloped flats
    o What all items will be considered as the cost of acquisition for determining the LTCG
    o How does one reflect this in the tax returns
    • Are there any case laws/high court decisions available relating to the above questions?
    Thanks
    Parur

  6. YESH KUMAAR says:

    Dear Sir

    I want to know that I had purchased A house in Nov-1999 and Now I am Selling the Same tomorrow.But In Sept-2013 had bought a Plot and made A house there on and complition certificate there of is not issued by the Competenty person till today . I had done this by getting a House Loan of Rs-22,00,000/- from the Bank and Proper Approval of the Concered Authority.I have a Only One house which is recently Construted .Except that House I have no House . I have to pay the LTCG or Not .I have not fulfil other Condition.
    Please guide Me
    With Thanks and Regards
    YESH KUMAR
    SHARMA SEHORE

  7. Anil Kumar says:

    Dear Sir;

    Can you please advise me the Tax Implication on the following –

    1. I booked a small 2 BHK Apt at Noida in 2009 (Allotment Letter Issued on 8th Oct’ 2009) with Jaypee Infratech for a total cost of Rs 39,91,960.00 + Serv Tax etc. and have so far paid a total of Rs 36,85,253.00 including service tax. Progressively based on construction linked plan.

    2. The possession of this property is long overdue (delayed by almost 3 years) and although the building is ready, they have yet to send us possession letter. On the contrary, JP has sent us a letter recently where-in they are saying that the ACTUAL AREA OF THE FLAT HAS INCREASED FROM 1120 Sq. Ft to 1163.64 Sq. Ft and hence the total cost is accordingly increased to Rs. 41,52,229.92 + Service Tax etc.

    3. Since I do not need this apartment and it also did not provide good returns, I have found a buyer for it and he will pay me a lump sum cost of Rs 49,39,432/- inclusive of everything against the total payment I have paid to builder so far. Buyer will also pay the balance amount of flat cost (Rs. 3,76, 147.33, as mentioned in that letter) directly to the builder at the time of transfer from me to him or as and when demanded by Jaypee.

    4. I will utilize the entire money (Rs. 49,32,432/-) received from this deal to pay for the balance installment of our other under construction Apartment I have booked at Mumbai (in Kalpataru Radiance Project in Goregaon (west) for a total cost of Approx 3.6 Cr) in April’ 2013 and have paid around 2.0 Cr so-far. I also expect to pay most of the deal amount within current financial year (before April’ 2016).

    5. Following is date-wise break-down of the total money paid by us to M/s Jaypee in installments for you to can get the exact dates of the payments.

    Sl.No Cheque/DD No./ Date Drawn on (Bank Name) Amount (Rs.) Name of Account Holder of the Cheque. In case of “DD” mention name of Account Holder from whom DD issued. * Jaypee Receipt No. & Date
    1 Cheque No. 451382 Dated 02/09/2009 State Bank of India 3,50,000.00 Anil Kumar Shrivastava 03103 dated 12/09/2009
    2 Cheque No. 407411 Dated 08/09/2009 State Bank of India 7,75,600.00 Anil Kumar Shrivastava 23406 dated 10/11/2009
    3 Cheque No. 407412 Dated 05/01/2010 State Bank of India 3,47,200.00 Anil Kumar Shrivastava 30292 dated 14/01/2010
    4 By RTGS dated 07/03/2011 State Bank of India 3,56,733.00 Anil Kumar Shrivastava 97361 dated 07/03/2011
    5 By RTGS dated 08/06/2011 State Bank of India 4,66,244.00 Anil Kumar Shrivastava 79952011 dated 08/06/2011
    6 By RTGS dated 08/06/2011 State Bank of India 867.00 Anil Kumar Shrivastava RTGS Receipt No. 2300009881 dated 08/06/2011
    SBI RTGS Ref. No. SBINH11159335153
    (Copy of Jaypee receipt was not received)
    7 By RTGS dated 17/08/2011 State Bank of India 2,66,021.00 Anil Kumar Shrivastava 9392011 dated 25/08/2011
    8 By RTGS dated 14/11/2011 State Bank of India 2,30,330.00 Anil Kumar Shrivastava 283252011 dated 14/11/2011
    9 By RTGS dated 28/02/2012 State Bank of India 2,31,701.00 Anil Kumar Shrivastava 37572011 dated 28/02/2012
    10 By RTGS dated 11/04/2012 State Bank of India 2,58,317.52 Anil Kumar Shrivastava 13022012 dated 11/04/2012
    11 Cheque No. 407417 Dated 05/08/2012 State Bank of India 2,20,130.14 Anil Kumar Shrivastava 214342012 dated 07/08/2012
    12 By RTGS dated 18/03/2013 ICICI Bank 3,461.00 Anil Kumar Shrivastava RTGS Receipt No. 2300095455 dated 18/03/2013
    ICICI RTGS Transaction Ref. No. 417829032
    (Copy of Jaypee receipt was not received)
    13 By RTGS dated 18/03/2013 ICICI Bank 1,77,458.69 Anil Kumar Shrivastava 1200104437 dated 01/01/2014
    14 By RTGS dated 24/12/2013 ICICI Bank 1789.64 Anil Kumar Shrivastava 1200104438 dated 01/01/2014
    Grand Total of Payments Made as of December’ 8th 2014 Rs. 36,85,252.99

    My query is – Since I am getting an additional amount of Approx. Rs 12 Lakhs over and above what I paid, What would be our Tax Liability (Capital Gain Tax, if any) after indexing the cost of the apartment? And how we can avoid any tax while filing next year.

    Pls review the above and advise. Also, as requested yesterday, please let me know your retention charges for filing of our taxes (for myself and my wife)

    Thanks in advance

    • pawan sharma says:

      sir if the period of installment paid is less than three years as on date of sale will it be indexed or not for the purpose of capital gain

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