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Regarding Tax Liability on conversion of Land into Building

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 July 2011 One Individual get it land converted into Building through Development Agreement with a Company.

After dvelopment land owner get it 50% portion of of developed property, but he does not sale the same, whther it attract long term capital gain tax.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
21 July 2011 On signing of the Development agreement the land lord is liable to pay Capital Gains Tax
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