03 March 2014
Suppose 3 brothers inherted a property (Land) from their Father. he said land is handover to Land Developer under tripatriate model in consideration of the 55% of the Property developed by the builder.The moment they transfer the land, Capital Gain arise. 1. Whether the Capital Gain is taxable in their hand as AOP ? 2. How the Capital Gain Tax can be reduced in such case.
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