Taxability on exchange of assets
This query is : Resolved
14 January 2014
Hi.. I have a query
If i want to construct 4 flats on a plot, and deal with contractor to transfer 1 flat to contractor on completion of construction of flat. Then what is the taxability of such transfer.
Whether it is taxable under capital gain head?
If i want to construct 4 flats on a plot, and deal with contractor to transfer 1 flat to contractor on completion of construction of flat. Then what is the taxability of such transfer.
Whether it is taxable under capital gain head?
14 January 2014
yes it is taxable under capital gains. the cost of the flat transferred to you shall form consideration for the sale of land..
However, there may be no actual tax liability as you can claim 54F deduction against the same flat!!
However, there may be no actual tax liability as you can claim 54F deduction against the same flat!!
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