No question of worrying........ The seller has to pay capital gains tax @ 20%, over the gains/profit over the land (off course, after indexation); reduced any exemption claimed u/s. 54F/ 54EC.. etc...
Hi Praveen,
You can definetly claim the gain part as a exempt. Kindly refer the link as mentioned below, which i have referred.
https://imazzea.biz/forums/thread/14/
(Login to www.imazzea.biz. After login refer the link as mentioned above.
Regrads
Sweta
CAclubindia
