Capital gain tax

hiten (Querist) 11 April 2014 This query is : Resolved
I have sold a property in Sept 2013. I am interested in an under construction property the possession of which is in dec 2017. Would i be liable to pay capital gain tax if i pay the entire amount by Aug 2016. but the possession of which i will be getting in Dec 2017. Is the possession letter letter needed in 2016 ?

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Suhail A.Siddiqui (Expert) 11 April 2014
Since your question is providing incomplete information,You can use capital gain for / on under developed property to save tax if it is Long term capital Gain.

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