Capital gain
This query is : Resolved
02 April 2018
Dear Experts
A owns 5 cents of land. B constructs a property on A's land. Entire Insvestment is made by B only. The property is sold after the construction and the profits are shared on a agreed basis between A and B.
How does the taxability arise. Capital gains is payable by A or B?
Please Guide
A owns 5 cents of land. B constructs a property on A's land. Entire Insvestment is made by B only. The property is sold after the construction and the profits are shared on a agreed basis between A and B.
How does the taxability arise. Capital gains is payable by A or B?
Please Guide
Nikhil Kaushik
(Expert)
05 April 2018
if there is a firm agreement on the revenue sharing, then the capital invested doesn't matter. Each person will calculate his gains based his share of revenue less his costs.
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