Capital gain or what??
This query is : Resolved
07 November 2016
Hello sir I am individual tax payer,since from last year I got 12 plots.As per joint venture agreement company will build plots and land will be in my father name.As per agreement 60:40 shares as per ,my father get 60 plots as per agreement with this effect and my share is 12 plots.My question is :-1) which head I need to treat this income2)what is my cost of acquisitions 3)how we need to treat cost of land which is in my father name4)actually I sold only 4 plots,how can I treat remaining plots??
Amol S Joglekar
(Expert)
07 November 2016
it seems that the land is still in your Father's name...So capital gain will accrue to your father.
08 November 2016
By the time of agreement we made partition,according to partition I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
08 November 2016
No sir,by the time joint venture agreement we made partition,according to that I got 12 plots out of 60 plots allotted to us
Amol S Joglekar
(Expert)
08 November 2016
Please specify...who were the parties to Joint Venture Agreement?
You said Company.....one party
Who was the other party?
You said Company.....one party
Who was the other party?
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