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Maneesh (Manager)     09 December 2012

Tax liability on sale of under construction property

Hi Forum,

I bought a flat in April, 2009 from a reputed builder. The flat is still under construction and i now want to sell it and plan to buy another property in bangalore.

As i have neither got the possession yet nor the property construction is complete. i would like to know if this will fall under Sec 54 and will i be able to get the benefit of LTCG?

Your responses are much appreciated

Regards

Maneesh 



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