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Long term capital gain tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 August 2017 1987 built Housing society is going in for redevelopment of building in Pune. Is long term capital gain tax applicable to individual flat holders. who will receive same area of flat with new construction and amenities.

Thanks. in advance

15 August 2017 They're going to get new flats against old flats capital gain gets exempt u/s 54.

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 August 2017 In 1987 cost of flat was Rs. 1 lac . After redevelopment of society the value of same flat becomes 35 lacs. in 2014. when this redeveloped flat is sold . For capital gains which figure will be considered Rs. 1 lac or Rs. 35 Lac.

Thanks.




18 August 2017 35 Lacs will be considered.if redevelopment cost is 35 Lacs.



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