12 April 2018
I am 67 resident indian. I had purchased a flat in Mumbai with following details: Registration date of purchase: 11.11.2009; Value: 2290125/- Possesion Date: 26.06.2011 Registration date of sale: 03.02.2018; Value: 4649000/- Now questions are: 1) What would be the capital gain & tax (pls give details) 2) Can I purchase residential land to exempt this tax? If yes, what will be the minimum value of purchase to mitigate fully?
12 April 2018
I had been alloted and registered the flat on 11.11.2009 with value Rs 2290125/-, which was under construction. After the completion i got possession letter on 26.06.2011
CAclubindia
