Tax on selling redeveloped resi property
This query is : Resolved
Anant Mujumdar
(Querist)
06 April 2026
Original residential property holder Father since 1991. (Market value not known for 1991) Property transferred to legal heirs on 07/02/2019. It was given for redevelopment on 25/11/2022.No financial consideration/monetary benefit since it is redevelopment. Occupation certificate received on 05/08/2025. 4.77% Part of the property (Carpet area) sold in March 2026.What is the Tax applicable for AY 2026-2027 for ITR2 form.
06 April 2026
The sale will attract LTCG with indexation based on FMV as on 01.04.2001, taxed @20%, and proportionate cost will be applied for 4.77% share. Section 45(5A) is not applicable.
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