Search Results For: full value of consideration


QUERY: Y wishes to sell his vacant land. The real estate agent is offering him another piece of land in exchange. Y want to retain the land as an investment and not construct any building. Will the exchange be subject to capital gains even though Y had not received any monetary consideration.
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The definition of transfer under section 2(47) of the Act is an inclusive definition and includes an “exchange”. So, here Y is exchanging his land with another land.