Dear Experts ,
Pl suggest what best can be done in this case to avail the CG exemption claimed. Construction was stopped . Slightly before the end of 3 year period , GF was 90% complete and FF about 70 to 80% complete. All Electrical & plumbing works completed. Water & electricity connections obtained. Kitchens ready , baths ready . tiling work on GF over and on FF 80% done. The boundary wall done with tiles and 2 gates. Balcony grill installed. stairs made , not tiled but usable..Self constructed. No completion certificate obtained. No photos .No such precaution was take as it was presumed the house will be completed in time. No permission to construct was required the plot size being small.
70 % spent by DD from CG account. 20% spent from the cash withdrawn from CG account. 5 % by cheques from other accounts. 5% from personal cash. Which expenditures should be shown and not shown ? Full consideration spent before the 3 year period.
What is the best scenario and how to get that?. What is the worst scenario and how to avoid that?. Is some penalty also levied for non- completion?
Thanks in anticipation for help.