Query is regarding all possible Tax implication in case of Building construction contract .
Eg. Builder has taken contract for building on the land owned by the individual.As the consideration for building ,builder is given possession of Top floor say five floor were Built.
Now mine query is whether there is transfer amounting to transfer in case of payment made to builder via allowing the possession of said fifth floor,consideration for building. If there is transfer amounting to capital gain then what will be the sale consideration,cost of acquisition .Please explain all the possible tax implication as regard capital gain ?
And also the applicability of tds and service tax on such cases.?
Experts views with any case laws ,supporting will be worthsome .
CAclubindia
