Capital Gains on Redeveloped Residential Flat

This discussion addresses capital gains tax implications for a residential flat that was redeveloped between 2012 and 2015. The owner plans to sell the expanded flat for Rs. 250 Lakhs in FY 2021-22 and seeks guidance on calculating capital gains and claiming exemption under Section 54. Key advice includes using the 2015 circle rate as the Cost of Acquisition (COA) for calculating Long Term Capital Gains (LTCG) and confirming eligibility for Section 54 exemption. Information on obtaining the 2015 circle rate from the sub-registrar's office or builder agreements is also provided.