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How to save tax while buying?- Property Hotline
Posted
September 1, 2016
Views
119
September 1, 2016
119
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2:50Now PlayingExpert: Pannkaj Ghadiali, Managing Partner at PC Ghadiali and Co LLP.
Question: From a capital gains tax perspective, when buying a new property to save on taxes, does buying the second property mean property registration or payment of the final instalment?
Answer: There are three essential elements to be considered viz. payment, agreement & registration and possession. Different circumstances will attract different requirements. If you are buying a new property under construction, you need to complete the payment equal to the amount of capital gains and have either an allotment letter or agreement. If you are buying a ready property, payment and agreement is necessary.
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