Redevelopment often raises questions about how to calculate capital gains, especially when the original purchase was decades ago. Today's Ask Wallet Wise query highlights the tax treatment when a larger flat is received in exchange for an old one and later sold.

Moneycontrol's Ask Wallet Wise initiative offers expert advice on matters of personal finance and money. You can email your queries to askwalletwise@nw18.com, and we will try and get a top financial expert to address your queries.

I, along with five other individuals, bought a plot of land in Pune and constructed six flats one for each of us in 1976. We subsequently formed and registered a housing society. The average cost incurred for each flat was around Rs 76,000 but we no longer have documents to substantiate this. In 2018, w

See Full Page