{"id":43857,"date":"2024-06-29T08:14:59","date_gmt":"2024-06-29T02:44:59","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=43857"},"modified":"2024-06-29T08:14:59","modified_gmt":"2024-06-29T02:44:59","slug":"tax-clarity-on-sale-of-redeveloped-flat-ltcg-or-stcg","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/tax-clarity-on-sale-of-redeveloped-flat-ltcg-or-stcg\/","title":{"rendered":"Tax clarity on sale of redeveloped flat &#8211; ltcg or stcg"},"content":{"rendered":"<p style=\"text-align: left;\">My parents had a small flat 250 sq ft carpet area. I got it from parents after the demise in 2017 as I am legal heir.<\/p>\n<p style=\"text-align: left;\">My only sister gave her release deed relinquishing her stake in March 2019.<\/p>\n<p style=\"text-align: left;\">Flat went for redevelopment in August 2019 based on the Permanent Alternate Accommodation Agreement.<\/p>\n<p style=\"text-align: left;\">During the redevelopment, I gifted the same under construction flat (before possession) to my wife in March 2022.<\/p>\n<p style=\"text-align: left;\">New flat possession received in March 2024 in wife&#8217;s name (484 carpet area).<\/p>\n<p style=\"text-align: left;\"><strong>Question<\/strong>: If wife sells it in june 2024, will it be LTCG or STCG?<\/p>\n<p style=\"text-align: left;\">When should wife sell for LTCG?<\/p>\n<p style=\"text-align: left;\">Mumbai based flat and it is ownership based and not pagdi.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[],"qa_category":[23],"qa_tag":[368],"class_list":["post-43857","qa","type-qa","status-publish","hentry","qa_category-income-tax","qa_tag-capital-gain"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/43857","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=43857"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=43857"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=43857"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=43857"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=43857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}