01 May 2012
what will be the condition created when a pvt limited co. bought an agriculture land for RS 40 lakh in 2008 and sale it to so many parts in a singal financial year for Rs 3 Crore in 2012-13?
02 May 2012
Thre would be no exemption available u/s 54b..as that is available only to individual and huf. If this is not a rural land,this would be taxable as LTCG it would be taxed at 20% flat
CAclubindia
