Conversion of leasehold land to freehold

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..... A family held a pece of land on leasehold basis for the last 90 years and also constructed 2 houses on it used it for residential purposes. It plans to convert the land to freehold and sell it immed .....

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..... iately. Query is: 1. Will this be sale of a long term asset or short term? 2. Will the conversion fees tantamount to cost of improvement? 3. How is the leasehold land to be valued? - Reply By .....

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..... GOPALJI AGRAWAL - The Reply = Before replying your query, it would be advisable to through the lease deed first. Generally, the freehold charges would be capitalised. The long /short term status wou .....

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..... ld be ascetained from the date of vesting of interest in the property. - Conversion of leasehold land to freehold - Query Started By: - Sanjiv Chatterjee Dated:- 19-5-2011 Income Tax - Got 1 Reply - .....

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..... Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMIT .....

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..... ax .....

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