Sale of redeveloped property Tax

ITR 36 views 1 replies

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.

Regards 

Anant 

Replies (1)
  • Your sale is Long-Term Capital Gain
  • Cost = Indexed FMV as on 01/04/2001 (proportionate 4.77%)
  • Tax = 20% with indexation
  • You can claim exemption under Sec 54 / 54EC


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