Mirror Now
@mirrornow·2.2M subscribers·145K videos
When should I sell a flat to reduce tax liabilities?- Property Hotline
Posted
November 10, 2016
Views
282
Likes
1
Engagement
0.35%
November 10, 2016
282
1
0.35%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
6:30Now PlayingExpert: Pannkaj Ghadiali, Tax Expert.
Question: We purchased a flat in Dahisar in March 2004. The society where the flat is went for redevelopment in November 2013. We got the new flat in October 2016. We even got the corpus fund and rent during the redevelopment period. We did not purchase any extra area for this flat whatever builder gave extra we took. Now, when should I sell this flat so that my tax liabilities are minimum and what are the options?
Answer: The safest advice would be to wait for 3 years from October 2016. However, in my opinion it would depend on the wordings of the redevelopment agreement. If at no point you lost right in the original asset, you can calculate 3 years from the original date of purchase. The fact that in November 2013 you gave up the old flat and got a new one in October 2016 would give scope for an argument that there is an exchange of asset and hence the holding period should be calculated from the date the new asset is received.
Be Un Confused
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
