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Nexus between 45(2), 45(3) and 50C of th Act

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 January 2011 Kindly throw some light on the applicability of sections 45(2), 45(3) and section 50C of the Incometax Act when a person brings in his land as capital to the firm which is engaged in the real estate business. Taxability in the hands of the partner and the firm may be discussed.
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27 January 2011 Very lenthy query. ask your problem

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