TMI BlogCapital gain - Joint Development Agreement entered - transfer of the land u/s 2(47) - LTCG shall be...Capital gain - Joint Development Agreement entered - transfer of the land u/s 2(47) - LTCG shall be chargeable to income tax as his income of the previous year in which the land is transferred, and for the purpose of section 48 of the Act, the fair market value of the land on the dated of introducing the land in the Joint Venture shall be deemed to be the full value of the consideration received or accrued as a result of the transfer of the land. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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