I have entered with dev. For developing property with developers
1- i surrender land to him for construction of flat
2- he will provide me one flat(total of five) at cost x consideration. But i dont have to pay X amt
3- remaing four flat he will sell his own and i have to sign sale deed as land owner and property
4- he has paid me y amt towards land cost of for four flat at the time of dev.aggrement
5- for four flat i have given right to collect sale amt to developers
Question
Income tax liability as capital gains on which amt X or
y or X+Y
Service tax liability if any
Mayank dave
Respected,
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Kindly support and resolve.
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THANKS
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Tax on dev agg