Real estate taxation
This query is : Resolved
18 September 2012
Sir,
One of my client gives his 10 acres agriculture land to develop and convert for NA plots at the ratio of 60:40. For such he taken Rs.2.00 cr from the developers. Now what are the tax implications for this transaction?
One of my client gives his 10 acres agriculture land to develop and convert for NA plots at the ratio of 60:40. For such he taken Rs.2.00 cr from the developers. Now what are the tax implications for this transaction?
19 September 2012
If agri land is sold then it is exempt. if it is given for development , CG will arise at the time of handing over for development.
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