04 August 2009
ihave purchased 3 acres of an urban agricultural land on 15-06-2004 by a payment of rs 2lacs per acre,and spent rs.60000/-to devp.authorty in 2007,rs100000/ at bangalore for to get permission for use of land for non agriculture purpose now i have deciced to sell on 05-08-2009,all the 3 acres of land to one sri vigneshwar griha Nirman Sangha consists of 40 members therin iam also one of the member & chairman also .what type of taxes i have to paytothe income tax dept.what type of tax burden will on the Vigneshwar griha nirman sangha if they have under taken to develop and allot the plots its members
CAclubindia
