Author Topic: Offset long term capital gain thro' reinvestment  (Read 7175 times)

Deepak

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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)?

narendra jain

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Re: Offset long term capital gain thro' reinvestment
« Reply #1 on: December 06, 2020, 11:06:44 PM »
sir
i had purchased a flat wide registered sale deed as per bank norms on 2 /3/2016 with home loan of 1.5 cr
the builder promised to give poseseion indecember 2017
the builder got  oc in 2019 december
the builder gave us poseeseion in april 2020
i sold my old flat in november 2020  an amount  of 1.8 cr
i want to clear the bank loan will i get long term capital gain benefit as the builder had delayed the posesseion an as we are ajoint family we didnt had any option but to retain our old flat and stay ther till time of posesion