A Pvt. Ltd. Co. planning to sell their land and building, purchased more than three years ago the property is under lease from a state industrial development corporation. All the installment are paid and cleared can the lease deed transfer to another company and what is the procedure of capital gain calculation..?
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Pankaj-U can enter into a tripartite agreement with that SIDC, ur company and proposed buyer in which u can specify the fact of lease and the SIDC will sell and ur co will receive the consideration.
Also i will suggest to luk into the provision of the lease deed. Is it showing automatic transfer of ownership, then u can obtain title deeds and NOC from SIDC and execute sale deed in favor of buyer. But 1st option is best as per me- tripartite agreement
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