Capital gain tax on owners' share

This query is : Resolved

విజయభాస్కర్ రావు కొలనుపాక (Querist)
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08 May 2017 Sir,
My wife purchased a house plot of 125 Sq yds and gave it to development through registered Development Agreement cum GPA to a Developer, who pooled up properties like this and developed 14 storied apartment. He allotted 2010 Sq feet house flat to her in lieu of her share. Whether my wife has to pay Capital Gain Tax? If so, what are the parameters to pay tax? Please guide me.
Vijay

Amol S Joglekar

Amol S Joglekar (Expert)
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09 May 2017 exemption for purchase of 2010 square house flat is available u/s 54F against the long term capital gain arising on sale of 125 square yard of house plot.
Ensure you satisfy the condition of 2 years..... please read section 54F carefully

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