When Capital Gain Arises On Transfer Of Tenancy Right?
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2 responses to “When Capital Gain Arises On Transfer Of Tenancy Right?”
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In our case th situation is where the tenant temporarily vacates his premises, the building is demolished and reconstructed, and the tenant is provided premises in the new building on an ownership basis. In such a case, the tenant is exchanging his tenancy for the new premises on ownership basis. in our case we got possession on Feb 2011 and we sold it on May 2011 @25lacs and market value was 48Lacs and we purchase new flat @14lacs in Oct 2011 .
Could you please tell me what will our tax liability -
The above same issue i also face please give expert opinion.
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