Please help me regarding taxation

hi this is dr amit baswant
got your reference at www.pwc.in
am in great confusion abot dealing with a land deal.
i have a land which i want to sell to mr bhoir. for 63 lacs
mr bhoir wants to get into development agreement with the builder who
in returns will give mr bhoir 1973 area free of cost and 37 lacs
i have purchased the land 25 yrs back so my profit will go into long
term capital gains.
am simply put 50 lacs in 3 year bonds and will pay 20% tax on remaining 13 lacs
can you please help me hw much tax mr bhoir and builder have to pay in total.
ready reckoner(circle rate) rate is 3076
actual market rate is 2800
construction cost for the whole project is 65 lacs.
Asked 1 month ago in Service Tax from Kalyan, Maharashtra
Good Morning
In above case 
Sales consideration for Mr. Bhoir is Rs. 9768948 {(3076*1973=6068948)+3700000}

His purchase consideration is 6300000

Now as per STCG He has to pay tax on difference of sales and purchased amount @ normal income tax slab rates applicable on him 

Builder will pay taxes as per his profits 
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Hi Dr. Amit,

Sales consideration for Mr. Bhoir would be INR 97,68,948 I.e. (3076*1973)+3700000 and purchase consideration of him would be INR 63,00,000

Now he has to pay capital gain tax on difference of sales and purchased amount.

Builder's tax will be calculated based on his total income during the year.


Please feel free to revert in case of any doubts 

Thanks and Regards 
Abhishek Dugar 
CA CS B.Com
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