29 June 2017
Suppose party X sold non agriculture land to Y, party Y has divided this land in to small plot and Y sold this land to party Z, party Z has build 3 floor duplex. In the above all this transaction actual sale deed was not created. now party Z sold this 1 floor to party A. & sale deed created between party X and party A.
Now my question is that what is tax implications on party X.
29 June 2017
X got the consideration from party Y in the year 2008. Party Y got the consideration from party Z in the year 2011. And party Z got the consideration from party A in 2011.
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