Looking for some clarity around capital gain taxation on sale of property in case of JDA and landlord selling the share before OC.
Please consider the below series of events
1st July [deleted] syrds land procured on for a value of Rs.10Lakhs
2nd July [deleted] syrds land given to a devloper on JDA and in return taking a 200 syrd villa (land cost 10L + Building cost 15L)
20th Oct 2022 - D...
I had purchased a flat jointly with my spouse (housewife) in year 2018 and sold it in year 2023. The funds from sale of property were deposited equally in my and wife's account.
Recently I have booked a flat which is under construction and whose possession is in June 2025. The agreement to sale is already done in Feb 2024 and capital gain received from sale of previous flat is transferred to...
Dear Esteemed experts,
I had purchased an under-construction property (property A) from a builder in March 2022, for which construction stage-wise payments are still going. In FY 22-23, I had sold another property (property B) and used that money to pay for Property A.
I had claimed exemption of LTCG arising on sale of property B for FY22-23 as I had invested that amount in purchase of pr...
Facts of the case:
A. I the Landowner purchased a property being Land & Building vide Registered Deed of Conveyance in the year 1987.
B. In the year April 2021 I entered into a JDA with a Developer for construction of a Commercial Building on the above mentioned Property.
C. It is agreed that the Developer shall construct and handover to me 50% of the Constructed Premises to be constr...
Dear Sir,
I own 2 flats in Bengaluru, 1 flat bought under gram panchayat limit with e Khata ( during Jan 2015) at sale deed price 9,75,500 which is owned jointly along with my wife as secondary owner. The other flat which I bought during 29/09/2021 with sale deed value 53,02,000 value which is single owner on my name. Currently both property on Housing loan SBI and LIC respectively. I am plan...
Dear Sir/Madam,
I had purchased a piece of land in April 1988 for Rs. 10,000.
Thereafter, I spent money on its construction, improvement, extention and addition as under :
1. For construction in1994-95 = Rs. 40,000 from my savings informed to my office
2. For construction in 1995-96= Rs.1,04,500 Withdrawal from GPF/from savings informed to office
3. For construction in 1995-96 = Rs; 2,0...
Jda signed oct.2012. builder not completed (65% only complete and left august 2017 ) the project. builder proceeded to nclt. association challanged in sc . and finally through mediation under retired supreme court judge , the case settled by S.court order( Sept-2020) to take over the project jointly by the land owners and the association and complete the project with own funds and execute the s...
I hope this message finds you well. I am currently involved in a complex property sale transaction and need your expert analysis to ensure that the financial structuring aligns with legal and tax compliance.
Sequence of Events and Payments:
Initial Amount Transferred: A sum of ₹13 lakhs was transferred at the outset of this transaction.
Loan Sanctioned: Subsequently, a loan of ₹87 lakhs ...
I am the original owner of a flat we purchased in .1973 Our building was redeveloped, and possession given in Feb. 2023.
We may want to sell our flat now, but need to know if long-term or short-term capital gains would apply? We are not purchasing any other flat in India. We were told to wait 3 years by one CA. To avoid short-term CG, when can I sell?
Also, what do I use as the cost-basi...
I am planning to buy an apartment worth 1 Crore in Bangalore. The property is jointly owned by Daughter(NRI) and Father(Resident Indian). Daughter has given a 'Power of Attorney' to the Father stating all the proceeds from sale of this apartment will be collected by the Father.
I have the following questions:
1. How is the TDS to be calculated in case the ownership-split between daughter (...
Hi i gave an advance amount of 10 lakhs in Nov 2013 and got allotment of the villa with villa number from the builder I paid another 30 lakhs in may 2014 and some installments every few months however the Agreement for sale and construction agreement was franked on 10 Mar 2015 . i got Possession of the villa in November 2018 and moved into the villa after the interior was done in may 2019., i s...
I booked an under-construction flat at the cost of approx 1 Crore in Nov 2021. I have allotment letter dated Nov 2021. As of today, the offer of possession has been made by the builder and now I have paid ALL the amount to builder i.e. 1Cr. Flat registration is not yet done and physical possession not taken YET.
Now, if I intend to sell the flat. Let's say I sell the flat for 1.50 Cr. My query...
Hello,
I receive foreign shares in the form of ESPP (half yearly once) and RSU(quarterly once) from my company.
1. The perquisite value shown in form 16 will be declared in the salary component.
2. The dividend received (after tax with-holding in USA) is shown under Other source of income.
3. Form 67 is submitted.
4. Schedule FSI is submitted as I have sold few shares (purchased from 20...
Hi Swarup here ! Kindly guide regarding our case of JDA capital gain.
Purchase -INR 2,00,000 ,in march 1997 .
2001 FMV - 3,20,000.
Registered JDA date : March 2015 , but due to some issues area share was revised and reduced . From 4500 sq feet to 3700 sq feet.
JDA revised ( amendment) date - Oct 2018.
Completion date: 31.03.2022.
Actual Possession received by builder - 25.08.2022.
To...
Mother sold land bought in 1999 at a gain of 15,08,000 in 2022. The amount is placed in a capital gains account for exemption from capital gains.
Assumption: it can used only for construction in the next 3 years or buying house in next two years under 54F.
Intends to use it fully for construction from April 2023 till Dec 2023.
Now, mother is buying land for Rs. 13,50,000 consideration pric...
Hi there,
I am Raja, a NRI (USA Work visa holder) and I would like to know my income tax obligation in the below scenario
I am a cryptocurrency a.k.a virtual digital asset (Bitcoin, Ethereum and etc.,) trader in USA.
1) Buy the crypto currency (Bitcoin, Ethereum) in USA.
2) Send the digital currency to my Bitcoin wallet in India.
3) I sell the digital currency (Bitcoin) from my Bitcoin...
Party A (Seller) bought an Apartment directly from Party B (Builder) for Rs.70 Lacs during pre launch 8 years ago in 2014 in Bangalore and Party A deposited 1% TDS in the name/PAN of Party B for this transaction.
After completion of construction of the Apartment in 2021, Party A did not register his property and sold the Apartment to Party C (Buyer) for Rs.1.4 Crore through Assignment Agree...
I joined a housing society in 1987 bought a 1650 sq feet flat by instalments from 1988 to 1992 in delhi.which date will be considered for purchase.or date of possestion or date of draw will be considered for income tax purpose.
My total purchase price was rs 640000 n 1992.I am paying rs 3000 per year as house tax to municipal corpration with receipt. I am spending rs 4000 on electricity rs 300...
Dear Sirs,
I am having a landed property in Thrissur ,Kerala. As the same is not getting sold , we are planning to start a joint venture with a builder. There will be a huge capital gain tax burden when we sell this property.
To avoid that we are planning to buy another small property with a house and remaining amount to invest in Government bonds.
But we came to know that maximum in ...
Dear Sir,/Madam,
My grandfather purchased a land in 1952 & build a two stored house in that property. My grand father expired in 1964 & my father became the legal owner. My father passed away in 1983 leaving behind my mother ,myself & my elder sister. My mother passed away in 2010.Now myself & my sister has signed an agreement for JV development with a builder in 2021, in which the developer w...