29 October 2020
Hi All I tried to find answers for query but couldn't find so posting query.
one of our client have 2 rooms in south Mumbai Chawl, their owner give chawl for development and in new building developer ready to give all tenants 300 Sq.FT 3 room Block. No agreement was done , but only oral commitment from developer.
Now the question is whether this transaction attracts Capital Gain ? if yes, how to calculate that. one thing to remember that our client will not receive any fund only block instead of 2 rooms in chawl. kindly respond with related sections, case laws etc.
CAclubindia
