landowner development agreement entered. my confusion for which are capital gain declare or not?. suppose capital gain declared how to calculate capital gain?. please solution.
thanks
swamy
TVVS Swamy (Accountant) (44 Points)
02 May 2012landowner development agreement entered. my confusion for which are capital gain declare or not?. suppose capital gain declared how to calculate capital gain?. please solution.
thanks
swamy
TVVS Swamy
(Accountant)
(44 Points)
Replied 02 May 2012
| Originally posted by : TVVS Swamy | ||
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landowner development agreement entered. my confusion for which are capital gain declare or not?. suppose capital gain declared how to calculate capital gain?. please solution. thanks swamy |
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Prateek Agarwal
(Sr. Executive - Finance & Accounts)
(1732 Points)
Replied 02 May 2012
Your query is very vague. Please clarify what exactly is your confusion.
TVVS Swamy
(Accountant)
(44 Points)
Replied 02 May 2012
Builder & landowner development agreement entered. So, Landowner is share 60% and Builder 40% of Share. Builder is business income, But, I ask me landowner share is income from capital gain is declare or not?. suppose capital gain is declared how to calculate capital gain?.
please solution.
Akhilesh Kapadia
(Employee)
(106 Points)
Replied 02 May 2012
Prateek Agarwal
(Sr. Executive - Finance & Accounts)
(1732 Points)
Replied 02 May 2012
Only development agreement would not be sufficient for cap gains.
When deed of conveyances are entered then it would be cap gains.
Landowner share is 40% for which it is cap gains. Consideration is amount incurred by the builder for making that 40% share.
vijay tanna
(CA)
(32 Points)
Replied 02 May 2012
yes for Land owner it will be capital gain. for
more details pls contact vktanna @ gmail.com
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