If I sell land under JDA... & in exchange I get the flats as a consideration which is reflecting in AIS/TIS & TDS @ 1% is done on same..... so shall I offer this amount reflecting in AIS as capital gain?
& can I claim exemption u/s 54F ...
i. e... I sold land & re-invested in residential flats which I got in exchange... ???
Correct. you can get exemption u/s. 54F IT act.
CAclubindia
