Entire compensation will be treated as capital gain. No cost will be deducted.
Capital gains tax on sale of ownership flat after redevelopment of Pagdi flat
My pagdi flat went in for redevelopment, I am getting ownership flat in return. When I sell it, can I take ready reckoner rate on date of possession as cost of acquisition, since pagdi flat does not have any recognisable cost?
Asked 3 years ago in Capital Gains Tax
I am keen to sell as soon as I receive possession. So holding it for 3 years for ltcg not feasible. Unless ltcg applies from date of agreement to surrender pagdi flat for ownership flat
Asked 3 years ago
Dear Sir,
Hope you are doing well !!
The entire sales consideration will be treated as capital gain as there is no cost deduction for the same.
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