Hey...I booked one flat with a builder in Noida in April 2014 by paying Rs 9,00,000...Further I paid for all the taxes and entered into an agreement for purchase with the builder and also the said agreement was registered with the registrar. I also availed home loan from SBI for Rs 31,00,000 which was directly paid to the builder. The project was due to be delivered on December 2017. Since project is not completed till date i filed a complaint with UP RERA. The builder agreed for out of court settlement and agreed to pay me Rs 62,00,000 being similar market price of this flat now. Now, what shall be the tax treatment of Rs 62,00,000 received by me.
Jan. 02, 2018