Query regarding redevelopment of Property -1
This query is : Resolved
06 April 2022
Hi
Can anyone help me with the following queries?
1. Flat purchased on 1.5.1990 went into redevelopment in Jan 2022.
Will there be any Capital gain arising in the F.Y 2021-2022 where the flat was surrendered to the builder?
TIA
Can anyone help me with the following queries?
1. Flat purchased on 1.5.1990 went into redevelopment in Jan 2022.
Will there be any Capital gain arising in the F.Y 2021-2022 where the flat was surrendered to the builder?
TIA
07 April 2022
No capital gains in 2021-22.
Capital gains will not arise if equivalent flat is handed over after development.
Capital gains will not arise if equivalent flat is handed over after development.
07 April 2022
Hello
Thank you for the reply. So in case if the redeveloped flat is handed over in Dec 2024 so capital gain will arise in 2024-25? How will the capital gain calculation done?
Thank you for the reply. So in case if the redeveloped flat is handed over in Dec 2024 so capital gain will arise in 2024-25? How will the capital gain calculation done?
07 April 2022
Capital gains arises only when we developed flat is sold.
07 April 2022
Yes there will be no capital gain in case of redevelopment of this flat.
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