How to Claim Capital Gain Tax Exemption on Redevelopment Projects?

Chaitra Seetharam | Last updated: 27 September 2024

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Section 45 of the Income Tax Act, 1961, provides that any profits or gains arising from the transfer of a capital asset effected in the previous year will be chargeable to income tax under the head 'Capital Gains'. If the land or building or both have been held for less than 24 months, then short term capital gains will be attracted. If the land or building or both have been held for more than 24 months, then long term capital gains will be attracted. Long-Term Capital Gain in case of Rede

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About the Author

Chaitra Seetharam

Finance Professional

I write on Income Tax, TDS, ITR filing, banking rules, investment schemes, and financial law updates in India. My articles simplify complex tax provisions, compliance requirements, and policy changes to help taxpayers, professionals, senior citizens, and businesses stay informed and financially aware.

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