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Can I Sell My Leased Land Before Lease Expires?

T S Khurana

T S Khurana   | Answer  |Ask -

Tax Expert - Answered on Oct 05, 2024

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more
Asked by Anonymous - Sep 28, 2024Hindi
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Sir, A person (landowner) land leased to another person (tenant) leased period from 2010 to 2030.but tenant leased land construction building year:2015 and landowner selling of leased land along with construction building to another person year 2024. Tenant leased period due for 6 years Question: Above mentioned selling transaction capital gains tax applicable for landowner or tenant in it act

Ans: 01. LTCG shall be worked out for Landowner, based on the Sale amount & its Cost. If he pays any amount to the tenant (lease holder), whose lease period is still 6 years left, shall also be included in the cost to the landowner.
02. In case of Tenant (lease holder) Tax Liability shall be, of the total amount he receives, either from Landowner or sub-lease holder minus his cost, what ever it is.
03. This situation has many legal issues, Like Whether Tenant was authorized to Sub-lease the property & that to for construction purpose, without any written approval from the landowner .
Legal status of the tenant is also questionable, if he does not had the authority to sub-lease the property. Lease agreement may stand terminated, if the tenant does not full fill its conditions. These aspects need a legal opinion. However, tax ability shall remain on the basis of above 2 points only.
Most welcome for any further clarifications. Thanks.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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I have completed my msc in biochemistry n now doing internship but I am confusing about my future because I see this field don't pay me inuff for life even for future... N don't have more jobs in Maharashtra. I don't like production jobs but in Pharma only production pay much so what can I do .. Can u suggest me which job is high payable after Msc biochemistry
Ans: Hi Nandu,

Greetings!

Could you please let me know which year you completed your course and whether you are currently doing an internship or apprenticeship? An internship is part of the curriculum, where students gain practical training, sometimes with a stipend and sometimes without. After completing your course, you can opt for an apprenticeship, which typically lasts one to one and a half years and includes a stipend, usually split 50%-50% between the industry and government.

If you are in the internship phase, please inform me about the specific field you are working in. Initially, you may not expect a high salary, but after gaining expertise in your field, your compensation will improve. Typically, this takes about three years, so it’s important to focus on skill acquisition for a better future.

If your internship aligns with your field of study, I encourage you to continue and consider starting a medical lab or exploring opportunities in medical devices related to biochemistry. However, pursuing a career in pharmaceutical production may not be suitable for you, as it is a different field, and you may find it challenging to grasp the processes involved since you are currently inexperienced in that area.

Please share the specific field of your internship, and I would be happy to provide more tailored advice.
with regards

Poocho. Life Change Karo!

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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