tax liability on purchase of new flat

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  1. Kayla goswami

    Kayla goswami New Member

    I have booked a flat at Kolkata on March 2011 and construction took a lengthy 5 years and finally took possession on Feb 2016. The consideration money at the time of booking was about 20 lakhs where as as per govt valuation mentioned at the sale deed with the builders the value is about 40 lakhs (stamp duty is paid on this value). This flat is my only residence and occupied by me. Please inform me about any income tax obligation for the fy 15-16 due registration of this house property.
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