Investment advice required


I am seeking your advice to plan my investment. We are 10 friends pooling Money (non-equal portions) to buy a piece of commercial land. As the money shares are non-equal we are currently assessing the convenience of forming an LLP and buy the land on LLP's name. LLP shares can be split based on their share. However we want to understand what are the problems we may come across for buying the LAND in LLP name. Few of my understandings i am listing below. correct me If i am wrong and please do provide more information useful for me to decide.

1) If buying as Individuals, We can sell the land and re-invest (in one year) in other land with out paying income-tax. Can we have same benefit If we buy land on LLP name?

2) If buying as LLP, We can show the expenses (i.e. fencing cost, security cost, maintaining cost etc) as LOSS, is this true? if yes, How long can i carry forward this loss ? Can i have same benefit as individual ?

3) If i am selling my stake in the LLP to someone else (outside exchange) to make profit how much income tax i am liable to pay ? Can i reduce the loss (my share) from profit?

4) If company is selling the land, How much corporate tax has to be paid ? can i re-invest in land with-out any tax? How much it cost for closing LLP?






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