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Messages - Deepak

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Discussion / Offset long term capital gain thro' reinvestment
« on: March 08, 2013, 01:27:49 AM »
I booked an apartment in 2006 at Rs 100(assume) and took bank loan. bank Paidup flat cost in instalments until 2011. Got possession in Oct 2012 and paid additional rs 20 (against modification charges, electricity/water govt charges, registration cost etc). bank loan is still outstanding and paying EMI.

Now selling another property in Mar 2013 with LTCG of rs 100. Can possession date oct 2012 be taken as date of reinvestment to offset LTGC (using clause of reinvestment in flat 1 year before selling another house)?

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