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SECTION 50C, Income Tax |
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SECTION 50C |
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An individual Mr. X is a owner of land and 3 years ago he has entered into a joint development agreement with developer which is a Private Limited Company. The developer had agreed to construct a residential complex and it will transfer certain no. of flats to Mr. X in consideration of the land. On final completion of project developer transferred 40 flats to Mr. X and all the flats were sold by Mr. X. In this regard I want to know since Mr. X transferred a vacant land to developer therefore Section 50C will be applicable to on account of land or else on flats. Posts / Replies Showing Replies 0 to 0 of 0 Records No Post / Reply found for this query Old Query - New Comments are closed. |
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