Taxable?-area held by landowner
In the Joint Venture of Area-Sharing 50:50 if the landlord retains the 4 flats, by way of 50% of his share, and only the Promoter sells his 4 flats should the area held by the landowner be taken into account while calculating Capital Gains?
Kindly help with your views.
Replies (6)
Dear Venugopal Ji,
Do you have clear title of 50% held by you.
Yes Madam I have clear title on the property.
For the purpose of calculating capital gains only the land for which you hold title can be taken into account for calculating indexed cost of acquisition.
So if the landlord retains his 4 flats and the promoter sells all 4 of his share of the flats, to calculate Capital Gains should the value of the 4 flats retained by the landlord be added to the land value of the 4 flats sold by the promoter from his own share?
Madam, I need your advice.
Madam is not answering. Looks like she just wanted to know whether my title is clear or not. Is it Madam?
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