Hi, I purchased an under-construction flat in Oct-2010 and registration was done in Dec-2010. I will be getting the possession of the flat in 2-3 months. I want to sell this flat and buy another one. Just wanted to check whether can I delay the possession until Nov/Dec 13 and claim long-term gain capital gain on property and invest it another flat or whether it would be classified as short-term capital gain and I need to pay taxes. Can I also claim long-term capital gain, if I take the possession and sell it after Dec-2013 with registration date being the starting date of the 36-month holding period?
Thanks,
Abhishek
