A private limited company has made an agreement for sale of plot to different customers. And sold the plot of land to different customers and registered the same in their name. Further the company has made an another agreement with each of the customer to whom plot of land has been sold for construction of residential unit. In this regard i want to know that the exemption of 25/2012, "Exemption in construction of Single residential unit otherwise than part of residential complex" can be availed by the company or not.As the Flats has been sold to separate family.
27 June 2016
No, construction of more than one individual house in a approved layout with common facilities will not be exempted. Construction of single unit in different layouts will be exempted.
CAclubindia
