CAPITAL GAIN on Land when land exchange
This query is : Open
27 November 2008
Can Capital gain or Loss arise in case of Transfer of Land (Capital Assets) in exchage of another land?
27 November 2008
fmv of asset exchanged will be the sale consideration.
27 November 2008
Here Barter System is adopted - some tax expert in this field are not acceting it.what u say consideration.
27 November 2008
The definition of transfer u/s 2(47) includes sale , exchange or relinquishment. Hence if you exchange a capital asset it attracts capital gains.
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