Hi, agricultural land ( no cultivation from few years) in rural area ( is sold to a builder. he will develop and sell sites. the registration will be done directly to the customer who is purchasing the site from builder. owner to builder no registration. please let me know the tax implications and other details to be considered in this sale.
If you are selling by making plots, it's of conversion of capital asset into STOCK-IN-TRADE. so capital gains will arise on the date of conversion. stamp duty value will be the full value of consideration. since the sale of land by way of plots, it's adventure in the nature of trade and on sale of each plot, business profit will arise