PLEASE SUGGEST ME REGARDING THE QUESTIONS GIVEN BELOW
A PERSON HAS A LAND, HE HAS GIVEN IT TO PROMOTER OR BUILDER, BUILDER BUILT FOUR FLATS ON THAT AND GAVE ONE FLAT AND BALANCE PAID IN CASH TO THE OWNER OF THE LAND IN THE CONSIDERATION OF THE LAND AND REST OF THE FLATS THE BUILDER SOLD TO OTHER PERSONS. SO IN THIS CASE
1. IS THE CAPITAL GAIN IS APPLICABLE IN THE HANDS OF THE ASSESSEE?
2. IF YES, HOW THE CAPITAL GAIN WILL BE CALCULATED?
3. ACTUALLY THE ASSESSEE DON'T WANT TO PAY ANY TAX , IS THERE ANY TAX PLANNING FOR NON PAYMENT OF CAPITAL GAIN TAX ON THE ABOVE IF IT IS APPLICABLE?
2.
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