I am having a land which i have acquired through will. now i am making a development right agreement with a builder who is suppose to give me 50% of the total area constructed by him. I would like to now the tax impact on the transaction. Am i liable to pay tax on the date of execution of Development right agreement and what should be my consideration.
12 December 2009
Your income starts from the receipt of sale proceeds in full or part thats when issues u have raised gets focused.To advice on the impact facts and figures are required.
CAclubindia
