Pankaj Arora (Learner) (3134 Points)
06 April 2011A Pvt. Ltd. Co. planning to sell their land and building, purchased more than three years ago the property is under lease from a state industrial development corporation. All the installment are paid and cleared can the lease deed transfer to another company and what is the procedure of capital gain calculation..?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 06 April 2011
i dont think he can transfer the lease without the concent of state development authority,
as in state owned industrial development projects does not have transferability clause, please ensure about the criteria.
also in such plots the enterpenour has availed certain state and central incentives, in case of any pre mature transfer will entitle him to pay back such incentives.
CAclubindia
