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How to calculate capital gains on old rented property?- Property Hotline
Posted
September 29, 2016
Views
609
Likes
9
Comments
2
Engagement
1.81%
September 29, 2016
609
9
2
1.81%
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3:22
3:51
3:33Now PlayingExpert: Pannkaj Ghadiali, Managing Partner at PC Ghadiali & Company LLP.
Question: I was a tenant for the last 45 years under rent control. My landlord has now bought back the flat and compensated me accordingly in April 2016. I want to know how I should calculate capital gains on such an old rented property.
Answer: Tenancy rights are recognised as the sale of property. So if you have bought tenancy rights from somebody and you sold it then you will have to reinvest the gains. And if you have inherited it and your acquisition cost is zero then you will have to re-invest the entire amount you are getting from tenancy rights in a new flat.
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