Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2016
Sir, My client has entered into Joint Development Agreement with a Land Developer. the total land under development is 26 Acres. Of which my client's share is 16 acres. I have arrived the calculation as below, is it correct PARTICULARS B YADI REDDY TOTAL TOTAL LAND IN Ac 16.01 Total 26.03 In Sq Yards 77561 Total 126203 Sale Consideration :( Stamp Duty Value) 7,35,26,326 Total 11,96,38,000 Plotes Shared ( Owner) 22706 Total 39756 Land Development in Sq. Yards+Developer 54855 Total 86447 Less : Developed Share 18779 Total 32880 Land Roads, etc development in Sq. Yards 36076 Total 53567 Cost of Land 1,24,501 Cost of Improvement ( Roads Share) 8,05,73,384 ( 36076 / 53567)*11,96,38,000 Total cost of Transfer 8,06,97,885 Capital Gain -71,71,559 Is the basis of calculations correct. Pl Advice. The agreement is only for plotting. No Construction activity.
20 September 2016
what is the sale consideration for total land? i.e. 26.03 acres.
your share would be for 16.01 acres. Right?
your share would be for 16.01 acres. Right?
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