Capital gain on sale of tdr recieved

Vinay (Articled Assistant)     25 April 2013

Articled Assistant 
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A piece of land has been acquired by state govt. for development work and the compensation has been given in the form of TDR which can be sold in open market. What are the tax implications on transfer of such TDRs? does this attracts the provisions of capital gains? can the the cost of acquistion be taken as cost of land? what are the exemptions available? Kindly post your views.

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