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I, along with my 4 partners(living in the same building) are entering into a redevelopment agreement with a builder. vide this agreement, the builder is contructing and giving us a little more than the area which we hand over (FSI accrued on existing area not calculated in existing area handed over) and some amount towards corpus fund. What will be the tax implication under this situation. Kindly provide appropriate case laws to support your opinions. |
