{"id":29112,"date":"2022-08-19T13:47:42","date_gmt":"2022-08-19T08:17:42","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=29112"},"modified":"2022-08-26T06:09:27","modified_gmt":"2022-08-26T00:39:27","slug":"tax-notice-after-re-development-of-flat","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/tax-notice-after-re-development-of-flat\/","title":{"rendered":"Tax notice after re-development of Flat"},"content":{"rendered":"<p>Dear Team,<\/p>\n<p>My building went in re-development in 2013 and the flat was given back to us in 2016 within 3 years.<\/p>\n<p>I received a letter from income tax under sec 148 that i need to pay tax on the construction cost which is around 35 lacs as per the stamp duty document. How would this be taxed as there is no real transaction ,it is just that i got my redeveloped flat back from the builder.<\/p>\n<p>Please guide on what should i reply to the department.<\/p>\n<p>Regards.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[137,565,459],"class_list":["post-29112","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-notice","qa_tag-re-development","qa_tag-redevelopment"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/29112","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=29112"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29112"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=29112"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=29112"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=29112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}