21 August 2010
Mr. X has booked a plot in a scheme floated by a builder. He has Paid NOminal Booking Amount. No Sale Deed or other agreement is done till 2 years. AFter 2 years that builders has demanded that Plot from Mr. X by offering hire prices. Mr. X has sold it and received the full amount through cheque.
Whether the excess amount received by Mr. X is chargeable to Tax as LTCG or in other way?
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