TaxTMI 
TaxTMI 
SECTION 50C
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....ECTION 50C<br> Query (Issue) Started By: - RAVI SONI Dated:- 30-6-2015 Income Tax<br>Income Tax<br>An individual Mr. X is a owner of land and 3 years ago he has entered into a joint development agreem....
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....ent 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 f....
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....inal 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 Sec....
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....tion 50C will be applicable to on account of land or else on flats.<br> Discussion Forum - Knowledge Sharing ....