EXCHANGE OF LAND BETWEEN TWO REAL ESTATE FIRMS IN IMMEDIATE VICINITY WITHOUT ANY MONETARY TRANSACTION. IS IT TAXABLE
3 years ago
EXCHANGE OF EQUAL LANDS IN IMMEDIATE VICINITY BETWEEN TWO REAL ESTATE FIRMS WITHOUT ANY MONETARY CONSIDERATION BY REGISTERED DEED. IS IT TAXABLE IN INCOME TAX. SINCE NO MONEY TRANSACTION IS INVOLVED AND SIMPLE EXCHANGE OF LANDS IN SAME VILLAGE BETWEEN THE TWO FIRMS, THE QUESTION OF TAXABILITY ARISE.
A.Hi,
Yes, it is taxable. Income Tax will have to be paid for the same. Thank you
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Yes, it is taxable. Income Tax will have to be paid for the same. Thank you
If you found this helpful, do rate us.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
Yes, it is taxable according to the provisions of Income Tax Act.
Thank You. If you found this helpful, do rate us.
Yes, it is taxable according to the provisions of Income Tax Act.
Thank You. If you found this helpful, do rate us.
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