About 350 chartered accountants (CAs) from Ludhiana, Moga, Jagraon and Mandi Gobindgarh attended a programme on Capital Gains organised by the Ludhiana branch of Northern India Regional Council of the Institute of Chartered Accountants of India (ICAI) as part of its diamond jubilee year celebrations at CA SS Periwal auditorium, ICAI Bhawan on the Pakhowal Road, on Sunday.
The programme commenced with the welcome address by the Ludhiana branch of Chartered Accountants Chairman CA Sanjeev Gupta. He shared the various initiatives organising various workshops, programmes etc taken by Ludhiana branch with the audience, since his taking over as chairman of the branch. After that, CA Arun Gupta, a guest speaker, spoke on the topic as to how real estate transactions involving land owners and builders were chargeable to tax.
He told the gathering of chartered accountants, that in present scenario many landlords having land at prime locations were entering into agreements with the developers to reap the benefits of property to the maximum. He said as these were not sale agreements, so many issues arose relating to taxability of these transactions.