Who will be taxed
This query is : Resolved
06 March 2013
Mr A has purchased a plot of land for rs 60 lakhs and has entered into a contract with B to construct ground floor, first floor and second floor and in consideration he will get second floor plus B will pay 10 lakhs more to A. Mr. B AFTER THEN SOLD THE SECOND FLOOR TO Rs 80 lakhs to C. Now in this case who will be taxed??
CA PARAS BAFNA
(Expert)
06 March 2013
In this case A will be taxed in respect of the transfer of plot to B.
.
B will be taxed in respect of the sale of Second floor to C.
.
.
B will be taxed in respect of the sale of Second floor to C.
.
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