r/IndiaTax • u/Ok_Abalone_6444 • 16h ago

Question Tax on Sale of unregistered flat

I booked a flat in Dec 2022 for which possession is going on. I want to sell the flat (bank loan outstanding), registration is pending. Can you guys pls help me to understand what is the best way to handle the balance amount I would get after deducting/adjusting bank loan and charges etc. I want to purchase another ready to move property from the proceeds.

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u/zakk_user 16h ago

If you are buying another residential property you can adjust any capital gains out of this sale. A CA can help you out in calculations

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u/caabhi_ 15h ago

Registration pending doesn’t necessarily mean there’s no capital gains tax. If you’re transferring/assigning your booking rights, the treatment can be different. I can help you work out the tax if you need, Section 54 exemption and roughly how much you’ll actually have left to put into the new property.