Capital tax

Nikhil V Sheth (Querist) 28 January 2022 This query is : Resolved
Hi,

I registered my new under construction property on 2nd March 2021. I am yet to sell my existing property.

Basically I have 2 queries

1) What date is considered for exemption of capital gain tax? Registration date or date when I will get possession?

2) Once i sell my old property , lets say within one year of new property purchase, Do i need to immediately transfer money to builder or i can invest it somewhere as I have taken builder subvention scheme where 75% amount is to be paid on possession.

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Quick Summary

This discussion addresses capital gains tax queries related to a new property registered on 2nd March 2021, while the old property is yet to be sold. The main questions are about which date (registration or possession) is considered for capital gains tax exemption and how the timing of selling the old property impacts tax liability, especially with a builder subvention scheme.