05 November 2014
Sir if a person acquires a property say of x area and progress on a JV with a builder to develop the said property with 50-50 shares holding in year. What would be the income tax/capital gain taxes on the proceeds.
05 November 2014
Dear Sakalesh, Thats depends on that what you have shown in your books of A/c whether you have show as stock in trade or investment if you have shown as stock in trade then business income or else capital gain taxation
09 November 2014
Need more clarity. Say X acquires land in the month of Mar 2013. He enters into a JD with a builder on 50:50 sharing. He executes a Irrevocable Power of attorney for builders portion in Jun 2014. He does mentioned that it is not transfer of property in the JD. Since X has not received any constructed/completed property still, does capital gain acquire into the account of X. If yes is there any provsion to stagger the capital gain.
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