ABC PVT LTD COMPANY IS UNDER THE BUSINESS OF REAL ESTATE, ABC PVT LTD HAVE LAND IN THEIR WORK IN PROGRESS AND CIRCLE RATE OF THAT LAND IS RS 46000/- PER SQ MT.
NOW, COMPANY PQR LTD WANTS TO ACQUIRE 70% SHARES IN ABC PVT LTD, PLEASE LET ME KNOW WEATHER WE HAVE TO VALUE LAND AS PER RULES 11UA OF INCOME TAX ACT.
AS PER OUR CONSULTANT RULE 11UA DOESN'T TALK ABOUT LAND I.E. WIP IN BUSINESS. PLEASE REPLY
CAclubindia
