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Income Tax - Highlights / Catch Notes

Home Highlights November 2020 Year 2020 This

Capital gain - Joint Development Agreement entered - transfer of ...

Income Tax

November 13, 2020

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

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