sale of redeveloped property
This query is : Resolved
05 April 2017
what are the tax implications after selling redeveloped property immediately after acquiring possession of redeveloped property?
05 April 2017
Hi Sonali,
There is no provision in Income tax act with regard to Redeveloped property.
Capital Gain tax will be calculated normally according to the below formula:
Capital Gain is calculated by deducting the sum of the following costs from the final sale price of the house:
Indexed Acquisition Cost
Indexed House Improvement Cost
Transfer Cost
May connect me on manish.saxena@icai.org
Thanks
There is no provision in Income tax act with regard to Redeveloped property.
Capital Gain tax will be calculated normally according to the below formula:
Capital Gain is calculated by deducting the sum of the following costs from the final sale price of the house:
Indexed Acquisition Cost
Indexed House Improvement Cost
Transfer Cost
May connect me on manish.saxena@icai.org
Thanks
06 April 2017
Capital Gain arising fron sale to be considered as short term as the property sold immediately after possession.
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