A's land FMV and cost is Rs.5000. B's land cost and FMV is Rs. 10000. A and B exchanged their lands. How is the tax computed for A in India? is it considered as gift or capital gain? will the treatment change if cost and FMV are different?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 01 July 2023
Both will be taxed on the basis of higher FMV, under head Capital Gain.
ajeet singh
(1392 Points)
Replied 01 July 2023
Dont do such things u will be taxed higer in such case transfer of property without adequate consideration
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