CAPITAL GAIN ON WIP
This query is : Resolved
CA Jay shah
(Querist)
19 March 2009
HOW TO VALUE LAND CONSTRUCTION COST AND WIP
OF LAND AND TO WHOM CAPITAL GAIN WILL BE APPLICABLE TO THE OWNER OR DEVELOPER?
PLZ REPLY AS EARLY AS POSSIBLE
OF LAND AND TO WHOM CAPITAL GAIN WILL BE APPLICABLE TO THE OWNER OR DEVELOPER?
PLZ REPLY AS EARLY AS POSSIBLE
19 March 2009
land is a seprate part and consrtuction is seprate.
In owners hand capital gain will be taxable as per section 45 i.e assessee must be owner of the asset.
In owners hand capital gain will be taxable as per section 45 i.e assessee must be owner of the asset.
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