Capital Gains
This query is : Resolved
M.V.S.S.SURYA BHAGAVAN
(Querist)
20 March 2008
Sir
A Property (Old House) given for Development to a builder with 60% to builder and 40 % to Land owner. The builder constructs 20 flats and 8 Flats were given to Land owner (4 Family members)and there is no monetary terms between the parties. What is the Capital Gain that to be paid by the Family members . Is there any exemptions.
A Property (Old House) given for Development to a builder with 60% to builder and 40 % to Land owner. The builder constructs 20 flats and 8 Flats were given to Land owner (4 Family members)and there is no monetary terms between the parties. What is the Capital Gain that to be paid by the Family members . Is there any exemptions.
kartik_somu
(Expert)
20 March 2008
Though no amount is received from the builder, the market value of 8 flats will be taken as consideration.
There are many case laws in this regard.
I will find out some and post it.
There are many case laws in this regard.
I will find out some and post it.
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