• Capital Gain on Sale of Property

I need your professional advice and a formal calculation for my capital gains tax liability regarding a recent property transaction. Please review the details below and advise on the best tax strategy.

1. Background & Property Details:

Type of Property: Inherited property that was given for Joint Development (JDA).

Total Land Area: 2,574 sq. ft.

JDA Terms: 10 flats built in total (5 Builder's share, 5 Owner's share).

Area of Flats: Each flat has a built-up area of 1,215 sq. ft.

Base Valuation: The Guidance Value for this location in the year 2001 was ₹1,200 per sq. ft.

2. Sale Transaction Details:

Flats Sold: 2 flats.

Sale Price: ₹55,00,000 per flat.

Total Sale Consideration: ₹1,10,00,000 (₹1.10 Crore).

Date of Sale: September 2025.

3. Reinvestment Details (Section 54):

New Property: I am reinvesting the proceeds into a new residential flat.

Cost of New Property: ₹98,00,000 (Base price, excluding Registration and GST).

Questions I need you to answer and calculate:

Regime Comparison: Please provide the exact Capital Gains Tax calculation under both the Old Tax Regime (20% with indexation) and the New Tax Regime (12.5% without indexation).

Cost of Acquisition Methodology: For the base cost calculation (2001 value), should we calculate it using the Undivided Share of Land (UDS) for the 2 flats, or should we calculate it using the total built-up area (2,430 sq. ft. total)? Please advise which method is legally compliant and most tax-efficient.

Exemption Status: Based on my ₹98 Lakh reinvestment, can I claim a 100% tax exemption under Section 54 in either or both regimes?

Compliance & Timelines: What are the exact deadlines for me to park these funds in a Capital Gains Account Scheme (CGAS) if the new property purchase is not registered before my income tax return filing due date?

Please let me know what supporting documents you need from my end to finalize this computation.