Tax on Gift of Land

hi
  first of all you have to tell me whether the company is a pvt. or pb. company than even you have not said that whether the amount is given to directors or any other person.
if it is a pvt. company and the amount is given to directors than it will be treated as deemed dividend u/s 2(22) and tax is levied on same.
so i will suggest to first give the complete detail so that i can help you further