banner_ad

Capital gain on sale of redevelopment property

This query is : Resolved 
Profile Image

Profile Image

(Querist)
31 January 2023 The assessee was holding a Slum property in X area.. The BMC wanted to expand the road where the slum was situated. Hence, the BMC entered into tripatriate agreement between BMC, assessee and builder to accommodate the asseessee in one of the flat in the building in Y area being developed by the builder. The stamp duty value reported in index 2 was NIL. Thereafter, on the same date, the assessee and builder entered into repurchase agreement where the builder bought the property from assessee at a nominal value but the stamp duty value reported in index 2 forming part of repurchase agreement was 1.3 cr. The tripatriate agreement and the repurchase agreement both are entered on the same date.

How will the capital gain be computed for the assessee. Whether it will be at the stamp duty value of 1.3 cr or at the nominal amount received by the assessee from the builder?
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
31 January 2023 On 1.30 Crs. value.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details