when a new shop is allotted after redevelopment, is it taxable ? any case law ? does it make if it was depreciable ?
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Dear Sir/Madam, Through a registered gift deed dated 04th August 2025, my mother has gifted her self acquired flat in Mumbai to me, basis of which I have become 100% owner now. She had originally purchased this flat in September 1993 out of her own funds. The flat, originally measuring 355 sq ft, is under redevelopment stage and due to FSI benefit, the new flat to be allotted is for 472 sq ft. However, I have also opted to purchase an additional area of 23 sq ft in this flat, due to which I will receive the new flat measuring…
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My spouse and I had purchased a 1BHK flat measuring 355 sq ft in Mumbai in Feb 2024. Our building is now under redevelopment and we are entitled to get a flat of 472 sq ft. In the meanwhile, we had also opted to purchase an additional area of 23 sq ft, due to which we will be allotted a flat measuring 495 sq ft. Now our developer has scheduled the PAAA registration in Oct 2025 and we will also need to make the payment for purchase of extra 23 sq ft area along with the proportionate stamp duty charges…
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Is it taxable on signing of DA ? or only when possession is given ?
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Housing Flat Building went for redevelopment in 2022. Now against this redevelopment Commercial Office space is received in 2025 as per the redevelopment agreement. Will it taxed as capital gain as new residential unit is not received against the old flat.
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Property Background Original MHADA property was exchanged for alternate accommodation in Ghatkopar (East), Mumbai. (before 2000) Property was later transferred to the current owner through inheritance.(in 2008) The property underwent redevelopment through a formal development agreement. (in 2014, further with Supplementary deed 2020) The owner received a new flat in the redeveloped project as permanent alternate accommodation.(in Mar 2022) The redeveloped flat was subsequently sold in June 2024. Now we are now having two CG scenario :- Scenario A : Capital Gain on Sale of redeveloped Flat Event: Sale of property (redeveloped flat) in June 2024 (AY 2025-26). Full Value of…
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I am the owner of the flat in Mumbai (along with the property card now transferred in my name- transferred by inheritance.) Our building is now going for redevelopment and under the Development Agreement, we will be getting certain hardship compensation - the question is weather this hardship compensation will be taxable and will be subjected to TDS provisions.
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when commercial property is recd on redevelopment of a commercial complex ; 1] what is tax effect if new area is same ? or more ? 2] what is tax effect if new shop is given in another building ?
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Dear Sir, In Brief: Builder approached for reconstruction of our existing flat, out of 34 members 29 got convinced. In our flat there are 3 types of apartment a) 40 Sq.yards (14 flats out of 34) b) 55 Sq. Yards (04 flats out of 34) c) 72 Sq. Yards (16 flats out of 34) Now, builder has proposed offer of 100Sq. Yards flat to every house owner, we have an objection stating if 40 Sq.yard owner is getting 100 Sq.yard then accordingly we should get flat size of the 180 Sq.yard. We have also given solution of giving us 2…
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My query is simply pertaining to a normal case where a society goes for redevelopment and enters into a Development agreement with the builder and members get larger flats for the same in the new construction. Query: Will section 45(5a) be applicable where we have to take the transfer date of the CC of the new flat as the year of declaring the cap. gains OR do we have to declare based on the date of signing the development agreement between society and developer OR the date when the member signs the agr for Permanent alternative accommodation with the developer…
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commercial property