| Question And Answer | |
|---|---|
| Subject: | Whether section 50C of IT is applicable on seller when he transfer his constructed building of midc to other person |
| Category: | Income-Tax |
| Querist: | Anand Rathi |
| Answered by: | Law Intern |
| Tags: | Capital Gains, section 50C |
| Date: | April 30, 2025 |
Whether section 50C of IT is applicable on seller when he transfer his constructed building of midc to other person
Section 50C will apply if the building is held as a capital asset and is held on ownership basis and not leasehold.
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