Dear Friends
A society is under redevelopment and members are getting 20% extra space for the property held by them.
If a member wishes to sell his share now will there any tax on proceeds, if yes then under short term or long term?? And what will be the cost of acquisition??
Kindly enlighten us on the issue
Dear,
Sale of any FSI provided by builder is taxed under long term capital gain...
Cost of acquisition is taken as per the stamp duty value...
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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Arvindkumar Maniar & Co.
Rajkot
CA
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