Hi all,
I have a land purchased in 1988 for Rs.2LAkhs. Land Area is 4800sqft.
A Developer has approached me for developing the property under Joint Venture and he agreed to pay 15Lacs in FY 17-18 and 25Lacs in FY 18-19 and also give me 2 Flats in FY 18-19.
Can you please tel me capital gains that i have to pay ? whats the point of taxation ? my tax liability will arise in which year ?
15 Lacs Taxable in FY 2018-19
25 Lacs Receipt including Fair Market Value of 2 Flats Taxable in AY 2019-20
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