Capital Gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 May 2011
One of our clients had purchased a plot in 1974 for Rs 3000/- The client gave the Power of Attorney papers to MrX in 2008 who took the initiative for development of the plot along with the neighbouring plot owners.
Mr X along with others went into an agreement in 2008 with Y builders for construction of building in the above said plots.
In July 2010 the client got a flat in the newly constructed building in exchange of the plot.
So will it amt to capital gains?
If yes, then as on which trf date?
Mr X along with others went into an agreement in 2008 with Y builders for construction of building in the above said plots.
In July 2010 the client got a flat in the newly constructed building in exchange of the plot.
So will it amt to capital gains?
If yes, then as on which trf date?
20 May 2011
get the agreement copy for valuations and effect date.
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