This week on Real Estate Journeys, we dive into one of the most misunderstood yet most critical — aspects of Indian real estate: taxes, audits, and financial structuring.We’re joined by CA Neelesh Khandelwal, Partner at Shah Khandelwal Jain & Associates, a Pune-based Chartered Accountancy firm with a legacy of over 50 years. The firm advises real estate developers, corporates, and high-net-worth individuals across India, with a strong reputation for clean books, compliance-driven growth, and long-term financial discipline.With decades of hands-on experience working closely with developers and homebuyers, Neelesh sir brings rare clarity to complex topics like capital gains, GST, entity structuring, audits, and compliance pitfalls — areas where small mistakes can silently cost crores over time.Beyond numbers, this conversation explores how financial decisions shape the sustainability of real estate businesses, why shortcuts eventually hurt scalability, and what both homebuyers and developers must get right from Day 1.This episode is especially valuable if you are:• Buying a home• Developing real estate• Planning to enter the real estate business• Or want to understand the financial reality behind projects🎯 What You’ll Learn in This Episode✅ Tax benefits and capital gains explained for homebuyers✅ Old vs new tax regime clarity (₹15–16 lakh income scenarios)✅ Why “bank-approved” doesn’t always mean safe✅ How auditors evaluate developers’ books✅ Cash flow vs profit — what actually keeps developers alive✅ GST myths and current project economics✅ Choosing the right entity structure✅ Audit mistakes, black money consequences & long-term risks✅ Financial habits that separate disciplined developers from the rest⏱️ Timestamps(00:00) – Introduction(00:40) – Start of the podcast(01:10) – Early life & upbringing(05:42) – Should children follow the same profession?(07:20) – Major changes in the firm over the years(15:20) – EY acquisition offer(21:58) – Tax benefits for homebuyers(27:08) – Old tax regime vs new tax regime(28:20) – ₹15 lakh income perspective(30:30) – Husband & wife buying a house jointly – benefits(32:30) – ₹16 lakh income: husband–wife scenario(34:03) – Was the new tax regime a good decision?(34:33) – Capital gains explained(39:46) – Indexation for capital gains(43:48) – Capital gains time frame(46:51) – Maximum cap on capital gains(47:26) – Buying property individually vs jointly(48:17) – Most common tax mistakes homebuyers make(52:19) – First things to analyse in a builder’s file(58:00) – Biggest share in a project: the government(01:02:00) – Key financial metrics for a developer(01:07:10) – Profit vs cash flow: what matters more?(01:08:00) – Profitable on paper but actually in loss(01:09:20) – GST input tax credit(01:14:08) – Best entity structure for a developer starting out(01:19:00) – Factors to consider while choosing an entity(01:22:43) – Developers setting up offices overseas(01:28:14) – Common audit mistakes made by developers(01:30:13) – Long-term impact of black money(01:33:59) – Financial advice for young developers(01:35:40) – Habits of financially disciplined developers(01:41:30) – Advice to keep finances in control(01:42:40) – Quick Fun Round👉 Follow Real Estate Journeys for more real-world insightsInstagram: @realestatejourneysLinkedIn: / ashwinmaheshrathi#RealEstateJourneys #NeeleshKhandelwal #RealEstateTaxes #HomebuyersIndia#RealEstateDevelopers #CapitalGains #GSTinRealEstate #AuditAndCompliance#IndianRealEstate #FinancialDiscipline #PropertyBuyingIndia #PodcastEpisode