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sale of redeveloped property

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(Querist)
05 April 2017 what are the tax implications after selling redeveloped property immediately after acquiring possession of redeveloped property?
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CA MANISH SAXENA

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CA MANISH SAXENA (Expert)
05 April 2017 Hi Sonali,
There is no provision in Income tax act with regard to Redeveloped property.
Capital Gain tax will be calculated normally according to the below formula:
Capital Gain is calculated by deducting the sum of the following costs from the final sale price of the house:
Indexed Acquisition Cost
Indexed House Improvement Cost
Transfer Cost
May connect me on manish.saxena@icai.org

Thanks
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Studentsca

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Studentsca (Expert)
06 April 2017 Capital Gain arising fron sale to be considered as short term as the property sold immediately after possession.
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