{"id":29390,"date":"2022-09-07T08:00:30","date_gmt":"2022-09-07T02:30:30","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=29390"},"modified":"2022-09-11T21:29:42","modified_gmt":"2022-09-11T15:59:42","slug":"introduction-of-land-as-capital-contribution-sec-453-sec-43ca","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/introduction-of-land-as-capital-contribution-sec-453-sec-43ca\/","title":{"rendered":"Introduction of land as capital contribution &#8211; Sec.45(3) &#8211; sec.43CA"},"content":{"rendered":"<p>Assessee is LLP engaged in the business of real estate in Maharashtra . The LLP is owner of the land having book value of 10 Cr and said land is shown as stock in trade .<\/p>\n<p>Assessee and other 3 parties have decided to form a partnership for development of project on the said land. Assessee will introduced the said land as capital contribution for it book value.<\/p>\n<p>Issues :<\/p>\n<p>1. Whether there are any stamp duty implication for introducing the said land at book value as capital contribution in the Firm<\/p>\n<p>2. Whether provisions of SEc. 43CA and Sec. 56(2) will be applicable as the stamp duty value of the said land is 20 Cr.<\/p>\n<p>3. whether any tax implication in the hands of assessee LLP for introducing the land at at book value as per provisions of SEc.45(3) of the Act.<\/p>\n<p>pl. guide<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[686,404,510],"class_list":["post-29390","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-land-as-capital-contribution","qa_tag-partnership","qa_tag-stamp-value"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/29390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29390"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29390"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=29390"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=29390"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=29390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}