Capital Gain Tax
This query is : Resolved
23 June 2011
Dear ,
kindly give your valuable opinion for the following prospective transaction.
i have land on which i want to construct an Apartment and sold it to different buyers so what kind of tax treatment applicable i.e. is it Business Profit or Capital Gain?
i also want to retain two flat among them and sale remaining of them to others.
one more thing that shall i go for any partnership transaction i.e. first i will transfer that land to firm and then firm will construct an apartment and then sale it same as above mentioned.
which is more beneficial for tax saving purpose?
Waiting of your expert guidence.
Amit
kindly give your valuable opinion for the following prospective transaction.
i have land on which i want to construct an Apartment and sold it to different buyers so what kind of tax treatment applicable i.e. is it Business Profit or Capital Gain?
i also want to retain two flat among them and sale remaining of them to others.
one more thing that shall i go for any partnership transaction i.e. first i will transfer that land to firm and then firm will construct an apartment and then sale it same as above mentioned.
which is more beneficial for tax saving purpose?
Waiting of your expert guidence.
Amit
Ashok Asthana
(Expert)
24 June 2011
The deal should be treated as business profit.
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