Capital gain on development of property
This query is : Resolved
18 November 2016
Sir / Madam
Please help regarding brief provision applicable for my following query
1. Land Purchased (N.A.) on 18.11.2013
2. Transferred to builder for development in 2014, and builder allotted a flat in developed building (Valuation of Flat was done at Rs. 6,00,000/-) , building Completed in August 2016
3. Flat which was received in above building is sold in November 2016 (Till date agreement for sale of flat is not executed) till will be after 18.11.2016
Please guide me on provision to be followed regarding
1. Period w.r.t. STCG and LTCG
2. Nature of gain on trf. of land for development
Please help regarding brief provision applicable for my following query
1. Land Purchased (N.A.) on 18.11.2013
2. Transferred to builder for development in 2014, and builder allotted a flat in developed building (Valuation of Flat was done at Rs. 6,00,000/-) , building Completed in August 2016
3. Flat which was received in above building is sold in November 2016 (Till date agreement for sale of flat is not executed) till will be after 18.11.2016
Please guide me on provision to be followed regarding
1. Period w.r.t. STCG and LTCG
2. Nature of gain on trf. of land for development
21 November 2016
Experts please give reply to my query
04 November 2021
STCG on both the transactions, over land and also over the flat received.
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