*Query regarding Capiatal Gain on sale of redeveloped flat - S. 54 & 45(5A)*
*01.04.1997* Mr A bought a flat A-101 for 3L
*01.04.2001* SDV was 3.5L
*01.04.2015* he handed over possession A-101 for redevelopment
*01.01.2021* received Completion certificate
SDV was 73L
*01.05.2021* he received possession of new flat no. B-303
*01.07.2021* he sold this new redeveloped flat B-303 at 75L
What will be the capital gain
*a)* in *21-22* :
dt of trf will be 1.7.21
75L - 3.5L after index
with s.54 benefit
ie sold flat B-303 n will buy flat C-501
_____________________
*b)* in *20-21* : as per 45(5A)
dt of trf will be 1.4.15
but dt taxability 1.1.21
LTCG : 73L - 3.5L after index
with S.54 benefit
evenif construction took more than 3yrs
ie sold flat A-101 n bought flat B-303 (by way of redevelopment)
in *21-22*
STCG : 75L- 73L
n S. 54 benefit withdrawn bcoz new property B-303 sold within 3yrs
___________________
*c)* in *20-21* :
dt of trf will be 1.4.15
but dt taxability 1.1.21
LTCG : 73L - 3.5L after index
without S.54 benefit
more than 3yrs lapsed
in *21-22*
STCG : 75L- 73L
__________________
*d)* in *20-21* :
dt of trf will be 1.1.21
but dt taxability 1.1.21
LTCG : 73L - 3.5L after index
with S.54 benefit
in *21-22*
STCG : 75L- 73L
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