Query regarding redevelopment of Property -1
This query is : Resolved
06 April 2022
Hi
Can anyone help me with the following queries?
1. Flat purchased on 1.5.1990 went into redevelopment in Jan 2022.
Will there be any Capital gain arising in the F.Y 2021-2022 where the flat was surrendered to the builder?
TIA
Can anyone help me with the following queries?
1. Flat purchased on 1.5.1990 went into redevelopment in Jan 2022.
Will there be any Capital gain arising in the F.Y 2021-2022 where the flat was surrendered to the builder?
TIA
07 April 2022
No capital gains in 2021-22.
Capital gains will not arise if equivalent flat is handed over after development.
Capital gains will not arise if equivalent flat is handed over after development.
07 April 2022
Hello
Thank you for the reply. So in case if the redeveloped flat is handed over in Dec 2024 so capital gain will arise in 2024-25? How will the capital gain calculation done?
Thank you for the reply. So in case if the redeveloped flat is handed over in Dec 2024 so capital gain will arise in 2024-25? How will the capital gain calculation done?
07 April 2022
Capital gains arises only when we developed flat is sold.
07 April 2022
Yes there will be no capital gain in case of redevelopment of this flat.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Value of property in capital gain
- Multiple trade mark
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
