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Ltcg on sale of agriculture land

This query is : Resolved 
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(Querist)
30 January 2013 MY CLIENT HAS SOLD HIS LAND THROUGH DEVELOPMENT AGGREMENT TO BUILDER FOR 50% CONSTRUCTION AREA TO BE RECEIVED AND RS 50LAKH IN VARIOUS INSALMENT. However my client has not received any amt other than the token amt of RS 1 LAKH GIVEN AT THE TIME OF REGISTRATION OF THE DEVELOPMENT AGGREMENT.NO POSSESSION IS GIVEN TO THE BUILDER AS HE HAS NOT FULFILED THE OTHER COMMITMENTS.
IN THE ABOVE CONTEXT WHTHER LTCG WILL BE APPICALE TO MY CLIENT OR NOT. PLS CLEAR IT
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
30 January 2013 Treat Rs 100000/- as advance received. No capital Gain arises at this stage.
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