Hi,
I have booked a under construction flat in Jan 2011, and sale agreement with builder was signed in May 2011 for 21 lakhs excluding service tax, vat and registration. I have taken home loan of around 17 lakhs. Now, I m planning to sell this flat and purchase in another location. My flat is still under construction and may complete by April 2013. Now if I sell this for 25 lakhs before registration then can I get tax exemption, if I purchase/book another? Otherwise how much tax to be paid and what are the options to save tax.
Kumar