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Helios by Sunshine Developers in Sector 78, Noida

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Helios by Sunshine Developers in Sector 78, Noida

Last updated: August 14 2017
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  • Re : Helios by Sunshine Developers in Sector 78, Noida

    As more and more companies are relocating from sectors like 62, 63, 58, 59 and surroundings to sectors on the expressway and G. Noida, the rentals and prices in Indirapuram are bound to come down. Not to mention internal issues like power cuts and congestion on roads.

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    • Re : Helios by Sunshine Developers in Sector 78, Noida

      Fatichar,

      Are you sure about this ?

      I thought that once sell his/her property anytime including underconstruction and < 3 yrs, and capital gains tax will not apply as long as proceeds are reinvested in property.

      I could be wrong though !



      Originally posted by fatichar View Post
      I planned to sell my unit near possession. But now I came to know that capital gains tax would be waived off only if I sell this 3 years after possession, and then invest the obtained money to buy a new house.

      Confused what to do

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      • Re : Helios by Sunshine Developers in Sector 78, Noida

        Originally posted by cautious_guy View Post
        Fatichar,

        Are you sure about this ?

        I thought that once sell his/her property anytime including underconstruction and < 3 yrs, and capital gains tax will not apply as long as proceeds are reinvested in property.

        I could be wrong though !
        i just checked it from a tax consultant .. fatichar bhai is indeed correct !

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        • Re : Helios by Sunshine Developers in Sector 78, Noida

          Thank you trial survery for the information.

          Then there is nothing for investor, he is in loose-loose situation. This means, typically investor would be paying transfer charge + 20% capital gains tax ?

          Then nothing is left for investor. This then explains why people in resale want coloured money.

          Originally posted by trialsurvey View Post
          i just checked it from a tax consultant .. fatichar bhai is indeed correct !

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          • Re : Helios by Sunshine Developers in Sector 78, Noida

            Originally posted by cautious_guy View Post
            Thank you trial survery for the information.

            Then there is nothing for investor, he is in loose-loose situation. This means, typically investor would be paying transfer charge + 20% capital gains tax ?

            Then nothing is left for investor. This then explains why people in resale want coloured money.
            Not 20%. 20% is long term capital gains tax. For short term gain, the profit is added to your taxable income. for most of us, it would mean 30%.

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            • Re : Helios by Sunshine Developers in Sector 78, Noida

              Fatichar, I have posted another query in another thread on capital gains. Please provide your inputs on that as well.

              Basically, need clarification on two scenario's 1) entire proceed with gains is reinvested in under construction 2) entire proceed with gains is reinvested in completed project and is registered in one's name within the same year.

              thanks.

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              • Re : Helios by Sunshine Developers in Sector 78, Noida

                Originally posted by fatichar View Post
                Not 20%. 20% is long term capital gains tax. For short term gain, the profit is added to your taxable income. for most of us, it would mean 30%.
                yes i guess thats why most people in resale are asking for the premium in black !!

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                • Re : Helios by Sunshine Developers in Sector 78, Noida

                  Fatichar, Trialsurvery, All

                  I am reposting my query from other thread. Will appreciate inputs.

                  -----------------------------------------------------------------------

                  Can someone please once again verify capital gains rules in layman terms.

                  I have questions regarding two specific scenario’s:

                  1) If one sells underconstruction property in less than 3 yrs of purchase (needless to say issue of possession does not arise in under construction), and reinvests the entire proceed (with gains) in another under construction residential property, within 12 months and within the same finanical year, will he/she still be liable for capital gains tax ? For sake of easiness let us assume that selling of first property and buying of other property happens within April'12 to March'13 i.e. within same FY.

                  I guess above is more or less answered that one will need to pay short-term capital gains tax and profit will be added to taxable income.


                  2) If one sells underconstruction property in less than 3 yrs of purchase (needless to say issue of possession does not arise in under construction), and reinvests the entire proceed (with gains) in another completed residential property, AND gets property registered in his/her name within 12 months and within the same financial year, will he/she still be liable for capital gains tax ? For sake of easiness let us assume that selling of first property and buying of other property happens within April'12 to March'13 i.e within same FY.

                  What about 2nd scenario ?

                  Sorry, if this is a repeat question and has been already addressed. But I need clarity on these two scenario's as answer will impact my course of action.


                  Will appreciate clarity on the topic ?
                  Last edited by cautious_guy; December 31 2011, 01:10 PM.

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                  • Re : Helios by Sunshine Developers in Sector 78, Noida

                    Even in second scenario, it will be considered short term gain, and would be added to taxable income.

                    For the tax purpose,

                    1. Property becomes your only when it is registered.

                    2. Hence to gain exception, first one should be sold 3 years after registry.

                    3. Second should be registered within a three year window, starting from one year before the sale of first, and ending after two years of sale of first.

                    Hope it's clear.

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                    • Re : Helios by Sunshine Developers in Sector 78, Noida

                      Originally posted by fatichar View Post
                      Even in second scenario, it will be considered short term gain, and would be added to taxable income.

                      For the tax purpose,

                      1. Property becomes your only when it is registered.

                      2. Hence to gain exception, first one should be sold 3 years after registry.

                      3. Second should be registered within a three year window, starting from one year before the sale of first, and ending after two years of sale of first.

                      Hope it's clear.
                      fatichar bhai hats off to you .. for not going in for "black" deals !!

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