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 ?
CAclubindia
