If the land owner gives his property to the developer by way of development agreement with 50% share of constructed area for the land owner, simultaneously a General power of attorney executed by the land owner in favor of the developer to sell & execute deed of conveyance for the remaining 50% share of constructed area along with proportionate share of land.
Then please suggest me what will be the Tax implication (Both service Tax & Income tax ) on the land owner.
CAclubindia
