11 February 2015
hello experts.. one of my client hv land, he is planning to gv it to builder for construction of 6 bunglows. in return he will get 3 bunglows & builder will get 3. i require ur helps to computes his capital gain.how his capital gain calculated. thanks
11 February 2015
The terms and conditions of the document entered into between the client and the builder plays VITAL role in all such transactions. The capital gain arising out of sale of LAND qualifies for 54F and/or 54EC exemption. If the land is sold along with the bungalow therein, the exemption u/s 54 is available in place of 54F