C g taxon redevelopment project
I have the redeveloped flat in a co op society at kandivali..
Redevelopment project details is as under
Date of paa agreement: 13/2/2013 date of possession: 31/1/201615
date of noc: noc not recd yet date og dev agreement : 13/04/2010
Detail of flat area:- old flat new flat total
Carpet area sq ft [deleted]
Area for s duty cal' n sq ft 1129.[deleted] (purchased)
Area in sq m 104.[deleted].68
Ready rec rate for 2003 per sq m 11760
do for [deleted]
Cost of flat /ready reconer [deleted]/paid [deleted]
Stamp duty paid 116140
Registration 23240
Total 2371380
Cost of old flat (2003) 1551987
Cost of old flat with indexation 1981842
Cost of improvement (2013) 475000
Total cost (2013) 2456842
Now my queries are
1/ what is the capital gain
2. pl confirk c g is not taxable as per sex 54
3. i have filed the return for 2013-14, got the assesment but did not include thiss capital gain.. now how can we declare itto it authority.
4. what is the new puese price is it rs 85270 x 198.7=9267762
5. can it be included in this tears return
6. is there any penalty for late declration
Pl advise
Dinesh m sha