Taxability
This query is : Open
08 April 2018
ABC pvt. Ltd entered into a joint venture agreement with a private party say mohan to construct apartments in mohan'S land and then share profit in the ration of 40% and 60% for mohan and ABC pvt ltd respectively.
on FY 14-15 they had turnover of 1.5 crore from transfer of apartment but the company had not paid any single amount to mohan..
qts
1) who had tax liability ?
2)is mohan liable for capItal gain tax ?
3) compute the tax ?
on FY 14-15 they had turnover of 1.5 crore from transfer of apartment but the company had not paid any single amount to mohan..
qts
1) who had tax liability ?
2)is mohan liable for capItal gain tax ?
3) compute the tax ?
08 April 2018
1. Company is liable to pay tax.
2. No
3. Whose tax laibility???
08 April 2018
ignore computation since more detail required
08 April 2018
ca rashmi please clarify, why mohan is not liable since transfer took place and capital gain arises on transfer ??
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