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.
CAclubindia
