26 February 2008
we have housing construction co., one part of which devlopment is elegible for deduction u/s 80IB ( permisson of development has been taken b4 31st march 2007, now problem is that the one part of that land is belonging to other person, if we will buy it then we hv to pay stamp duty on purchase and sellor is liable to pay Capital gain tax, is there any possibility by which we should neither pay whole stamp duty nor pay capital gain tax? if any procedure have please explain me its detail procedure, and how should we do accounting in book to claim 80IB deduction
CAclubindia
