guys i need your help,
1) suppose i purchase a land in installments and after paying full amount i sale, then what will be the CII for purchase and how will i calculate LTCG?
2) in the above eg., suppose i purchased a property in some one else name and he gave me power of attorney, and i sold it without paying him and informing him and dont disclose my LTCG under income tax act., later on if ITD gets fishy and issue a notice in that persons name and he blames me, then what will be the repurcurtion of such transaction under contract act and income tax act.
CAclubindia
