sumant (aa) 04 February 2012

Tax on underconstruction property

hi i purchased an underconstruction property in sept 2010 @10 Lacs now (feb 2012)the value of the property is

15 Lacs(property is still underconstruction.

I plan to sell this property and purchase a new property with the money .

Does this involve any tax implications???

Please help or is there any way to save the tax??

Sanjeev (Lawyer) 04 February 2012

Yes this will involve capital Gains tax

sumant (aa) 04 February 2012

thanks ..but is there any way i can avoid it the tax paying part.

I am buying the new property with the money..would't this save the tax part.