Capital gain on tenancy rights
This query is : Resolved
24 February 2021
partnership firm has sold his tenancy rights to developer and in exchnage get 1 residential flat. flat is used as office not sold. can partnership firm needs to pay capital gain on tenancy rights? if yes which year the year in which they got possession of flat?
24 February 2021
Yes, they have to pay capital gains tax on entire Market value of the flat in the year in which they got possession.
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