DWQA User Profile vijaykumarQuestions(25)Answers(6)Posts(0)CommentsI have sold Flat in Nov 2020 for 48 Lakhs. I want to construct a house with in 3 year say before end of NOV 2023. Do I need to file ITR2 in 2021 just stating sale transaction and intention to construct.Do I need to File ITR2 in 2022 and 2023 alsoOn Sale of Flat & Capital Gains Tax saving queryThanks for the prompt reply.please bear with me. I wanted brief answer to point 4 and 5 stated aboveThanks On Answer for Utilization of CGAS amount for construction of house.I have purchase a house for 148 lakhs jointly with wife in Nov2019 I invested my retirement benefits and saving. After 10 month in Sep 2020 I have sold my flat for 48.75 lakhs. Can I use this lcapital gain for claiming the tax saving as it was BUY first with out any outstanding loan, and SELL later with in 1 year.Even If this is acceptable can I build a new house in my site for 50 Lakhs. some one said that If I construct a new house with in in three years , capital gain saving will be canceled. Other said is it applicable only to 84F case not for section 84.Please clarifyOn Answer for Property Investment – Purchase first and sell nextSir,Thank you very much for advice. Yes it is true that BBMP khata is issued in 2008 after death of Devaraj. Before in 1988 BCC khata Issued in Name of Devaraj. But no BDA katha applied after allotment in 1974 till 1988.Kannan got Release deed in 2002, and got Khata tranfered ot his name now in Feb 2019.Latest Tax paid receipt show no dues.Is it leagal to purchase a site with khata issued after 6 six years from death.Can I consult the civil advocate or just drop this.Vijay kumarOn Answer for Buying BDA plot in Bangalorequestion are1. Currently available position certificate, Absolute sale deed in favor of Devaraj and RELEASE deed, the Latest Tax Paid, BBMP Katha in favor of Kannan are sufficient for transfer of ownership.2. It is legal to buy property with certified documents like allotment letter, LCSA, BDA khata.3. Did I need to demand for complete tax paid receipts and EC from allotment to till dateOn Buying BDA plot in BangaloreSir,sorry for the confusing statements. I will rewrite questionBDA allotted site to Mr Devaraj in Feb 1974 , position certificate in Mar 1974, LCSA in June1974, Abs Sale deed in 1985.But they have only Poisiton certificate and Absolute SaleDeed, Other docments like , allotment letter, LCSA , BDA katha are not available.They are saying that these document will be available in BDA and they will get registered copy.Ground floor of 680 sft was built in 1994 but they don't have building sanction planGot Katha from BCC (Bang city corporation) in 1988First floor of 600 sft was build in 1999 and they have building sanction plan for First floorDevaraj and his wife died in 2002 with out executing any WILL or partition deed among his 4 children's.Got BDA Katha in favor of Devaraj in 2008In Nov 2012 Devaraj’s three legal hairs executed RELEASE DEED in favor of last son Kannan. But they have executed any FAMILY tree that time.Kannan got Katha transferred on his name in Feb 2019.Kannan provided only latest Tax paid receipt for year 2017-18 and 2018-19 onlyOn Buying BDA plot in BangaloreCrop
