Big Relief for Flat Owners: No Income Tax on New Redevelopment Flat Received in Exchange of Old One, Rules Mumbai ITAT
Big Relief for Flat Owners If your society is undergoing redevelopment and you’re set to receive a new flat in exchange for your old one, there’s good news! In a major relief for homeowners, the Mumbai Income Tax Appellate Tribunal (ITAT) has ruled that such transactions are not taxable under Section 56(2)(x) of the Income … Read more