My Tax enquiries are 1] will there be any gift tax if we give gift other than cash such as land to someone who is not related?
2] when we enter into agreement with a builder, we provide him land and for this consideration he gives us some flats or say built-up area.
Do we have to treat the proceeds as long term cap gain or pay cap gaintax as soon as builder hands over flats
Fr calculating the capital Gain - should the constrcted area ibemultiplied by cost of construction and the indexed cost of acquisition is deducted and the gain is taxed. afterwords whenever the flats are sold agsin do we have to pay long term or short term capgain tax
What is the best way of approaching this from the Tax angle to have minimum liability?
CAclubindia
