Capital gain

K.Senthil Raja (Practicing Chartered Accountant)   (32 Points)

17 April 2012  

My client is private limited company based at Chennai. They are in the service industry and they are having a vacant land of 15 acres in UP. They want to sell the land and would like to purchase a land and building in Chennai for the purpose of shifting their office as they are now in the rented premises. What about the Capital Gain implications on the above transfer? Is there any exemption for the above transfer?