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Capital gain tax be chargeable on flats made by builder on my land
09-Jun-2023 (In Property Law)
I had a land in Ranchi Jharkhand bought in1960.Later l gave the Land to builder In 2006 .He gave me four flats now do capital gain tax be charged on flats.
As per the law, capital gain tax will be charged. The rate is differnt for different terms. Contact your chartered accountant in the matter and he will be in a better position to advise you accordingly.
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Adv. Ashutosh Anand
Ranchi | 5+ Answers
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Ultimately the property you received in your share needs mandatory registration and any property which values more than 50 lacks the same fall under the value of taxation therefore assert the valuation of the property and pay tax accordingly
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Adv. Jorong Sanga
Ranchi | 5+ Answers
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