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Capital Gain on sale of property

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(Querist)
21 March 2021 I have one residential flat booked in year 2010 and possession received in Dec 2015 @ 30L. At present I have to pay arrears of maintenance fee for two and half years and transfer cost for sale of flat, say 3L. Purchaser has agreed to pay 40L (includes maintenance fee + transfer cost include sale price). Now what will be my selling price of flat (a) 37L [40-3] or (b) 40L. Please advice. capital gain will be calculated out of 40L or 37L.
Thanking you in advance
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 March 2021 Capital gain will be calculated out of 37L.
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
22 March 2021 It is advisable for you to receive Rs. 37 lakhs (sales consideration) and let the buyer bear directly the upfront maintenance cost and transfer cost of the flat.
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Deepak

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Deepak (Querist)
23 March 2021 Thanks for valuable advise
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