An Industrial Plot is allotted to me under reallocation scheme in 2004-05 and Possession is received in 2007-08. And the same is sold by me in 2008-09. What is the tax treatment the detail of plot are given below.
Plot Allotted in Fin. Year 2004-05. Amt. Paid RS. 420000/- full payment
Possession Received in Fin. Year 2007-08 Possession Exp. Rs. 35000/-
Plot sold in Fin. Year 2008-09 Amt. Rs. 650000/-
Please e-mail you reply at gautamumesh_1986@yahoo.co.in.
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