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The Economic Times
The Economic Times
Neelanjit Das

Landowner gets Rs 6 crore by selling TDRs received for giving up land for road widening, pays no tax; ITAT Bangalore rules TDR sale taxable as capital gains

When the Bruhat Bengaluru Mahanagara Palike (BBMP) asked Mr Talera from Kasturba Road to give up his land for road widening work, he agreed to it and in return got some transferable development rights (TDRs).

For those who are unaware, TDRs are certificates landowners get when the government acquires privately held land for public use. Landowners can use these TDRs to build extra floors on another property or sell them to builders for development.

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