{"id":25238,"date":"2022-02-26T19:06:06","date_gmt":"2022-02-26T13:36:06","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=25238"},"modified":"2022-02-26T19:06:19","modified_gmt":"2022-02-26T13:36:19","slug":"capital-gain-2","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/capital-gain-2\/","title":{"rendered":"CAPITAL GAIN"},"content":{"rendered":"<p>Tenanted Flat in the name of Grand Father<br \/>\nCost of Acquisition: Not Known<br \/>\nAcquired by Grandfather\u00a0 in the year Prior to 1961<br \/>\nGrand Father Expired in the Year 1972<br \/>\nPermanent Alternate Accommodation Agreement (PAAA) Between My Father (Only Legal Heir) and Land Owner cum Developer registered on 26.12.2013<br \/>\nValue of the flat as per Stamp duty Authority as on 26.12.2013\u00a0 was Rs. 12.86 Lakhs<br \/>\n<span style=\"text-decoration: underline\"><strong>Condition in PAAA: Tenancy Will Surrender only on receipt of possession New flat on Ownership Basis<\/strong><\/span><br \/>\nMy Father Expired on : 07.01.2018<br \/>\nFull OC received on\u00a0 : 25.03.2021<br \/>\nPossession of new flat on ownership basis handed over to Legal Heirs on 26.05.2021<br \/>\nNew flat sold\u00a0 on 12.08.2021<br \/>\nSales Consideration 65 Lakhs<\/p>\n<p>Query:<\/p>\n<ol>\n<li>Taxation of Capital gain in which Year and also Whether it is short term or Long considering in the hands of Legal Heirs considering<br \/>\nTransfer U\/s.2(47)(v) section 45 of IT Act and Section 53A of TOPA and Section 45(5A) effective from AY 2018-2019<\/li>\n<li>Any benefit of Indexation and also exemption u\/s.54 available new flat available on surrender of tenancy rights.<\/li>\n<\/ol>\n<p>Pls share your valuable opinion.<\/p>\n<p>Thanks and Regards<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[],"qa_category":[23],"qa_tag":[24],"class_list":["post-25238","qa","type-qa","status-publish","hentry","qa_category-income-tax","qa_tag-capital-gains"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/25238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=25238"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=25238"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=25238"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=25238"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=25238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}