A flat is booked in one of the project before 4 years. Letter of allotment issued to us. However final agreement is not yet entered into. 95% of the total value as per allotment letter is paid.
Now if i sell the same then
a) Can i take the profit as capital gain? Will it be a long term capital gain?
b) Only Memorandum of Understanding is entered into with new buyer and Assignment agreement is entered into with the builder to assign my right in flat in favour of new buyer. Is this documentation OK?
Vipin D. Panchamia