Exchanging old flats for a new one? You need not pay income tax - Full details here

There have been incidents where builders or developers decide on a reconstruction when old buildings developed by them begin to deteriorate. In such cases, the flat owners of such buildings agree to the redevelopment work as they are entitled to a new, redeveloped flat in the same place. But does receiving a new flat in exchange for old flats mean that the owner will have to pay income tax on it? Here's what you need to know.

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