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What is the tax impact on sale of unregistered property?- Property Hotline
Posted
September 15, 2016
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1,213
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10
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September 15, 2016
1,213
10
0.82%
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4:17Now PlayingExpert: Samir Kanabar, Partner -Tax and Regulatory Services at EY
Question: I was allotted a property in 2011 that is yet to be registered. I have not taken possession yet. The last instalment was paid in 2014. If I sell it now, will I get capital gains exemption?
Answer: Capital gains tax is available only if the property is held for the long term and not short term. Date of the agreement is regarded as the date of purchase. Non-registration and no possession for long duration could be a challenge.
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