Question ID : 38143

Regarding Investment in new property

An Assessee is having two residential flats and now wants to purchase one more Residential Villa which is under Construction and also Registered under RERA. Assessee is making Down payment of RS. 50 lakhs and will get possession after one and half years before which he will gift the existing one residential flat. Whether such payment of RS. 50 lakhs will be treated as Advance or Investment Kindly give your Valuable Suggestion.

posted by GOPAL KUMAR AGRAWAL on May 14 2019 12:00AM