How profit earned on a flat booking taxed?



I had booked a flat in the year 2007. After that construction started. The construction is now complete. I wish to sell the same to a buyer even before the flat being registered in my name, i.e. the sale deed will be between me, the builder, and the buyer, which will be executed in Feb 2012. I will earn some amount from this sale. How the income tax will be levied on this transaction. Whether it will be a capital gain, and if so, short term or long term?

How profit earned on a flat booking taxed?
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One Reply to “How profit earned on a flat booking taxed?”

  1. if you sell even before registration,you do not figure in the scene. so there is no question of any gains or tax on it.But it is illegal.





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