jyoti rani (secnderabad) (1852 Points)
11 December 2012Hello Freinds please resolve my query................
If the person is purchase the land in 2002 and transfer the 50% land in 2007 for development purpose and the consideration is received in 2012.........when the capitalgain tax arise or should we consider the market value of land as sale sonsideration or not............
Please solve my query??????????????
Yogesh Bhandari
(CA FINAL Student)
(429 Points)
Replied 11 December 2012
jyoti rani
(secnderabad)
(1852 Points)
Replied 11 December 2012
Thanks yogesh,
but which value should be considered as sale consideration cost or market value because market value is only considered when we not able to ascertain the consideration but here we have cost so we can take that 50% of the cost as a sale consideration or full value..............
Yogesh Bhandari
(CA FINAL Student)
(429 Points)
Replied 11 December 2012
CAclubindia
