Mr. X owns a land. Mr. Y is a builder.
Mr. X and Mr. Y form a Joint Venture and construct residential flats and sell it to outsiders.
How is this taxable in the hands of Mr. X and Mr. Y ?
1 Replies
Mihir
(Wealth Manager)
(5293 Points)
Replied 16 December 2013
It depends on the terms and conditions in the developement agreement. Who will own flats and how many and on what basis?
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