Capital Gain In Case Of Land Development Agreement

The developer completed the project and donated 60% of the built-up area to assess the landowner via Regd. provided that the provisions of this subsection do not apply when the notator transfers his share of the project on or before the date of issuance of the certificate, that capital gains are considered to be income from the previous year in which the transfer takes place, and that the provisions of that act, with the exception of the provisions of this subsection, apply to the determination of the full value of the consideration received. 8.Therefore, in the case of common development agreements, for the harmonious interpretation of Section 45, paragraphs 5A, 54 and 54F, capital gains resulting from the transfer of real estate or real estate, or both, should be taxed in the year in which the lessor realizes the dissimilarity of home sales, and the capital gains tax obligation should be limited to units sold during this year. The property was handed over for the execution of the work by the developer and there was no document other than the development contract that transferred the title to the property to the developer. In the absence of transfer of ownership and consideration on the date of the development contract, the surrender of the property was only a temporary measure of construction work by the developer, and the exclusive ownership of the property in the legal sense of the contract remained due to the auditor, who was ultimately handed over at the time of the completion of the agreement to sell the dwellings by the auditor. The expert carried out all the sales work for the transfer of the built dwellings to the user/buyer, so that the transfer of the land on a pro-rata basis took place only when the expert transferred the land through sales work and offered the operating products accepted by the department. In any event, when the auditor maintained the portion of the land in proportion to the area to be conserved by the expert, there was no discussion of a transfer of the entire land to the developer. This amount of rs.1833333/- is taxable under the head Capital Gains (long-term) for the P.Y 2018-19. Assessee executed Regd. JDA and passes the possession of land to developers for the development of So, for the purposes of Section 45 (2), as well as up-to-the-minute decisions, in the event that a certain percentage of the project developed in the form of housing/units etc. are received by the landowner as part of the sale for compensation, the capital gain from the conversion is taxable in the year in which these SIT in the form of dwellings/units will ultimately be sold by the landowners to final buyers. As has already been said, the new Section 45 (5A) tax regime applies only in the case of asset transfers under the JDA. In the case of the conversion of the capital asset into negotiation by the owner of the capital prior to the implementation of a registered development contract, the benefit of Section 45 (5A), that is, the deferral of the tax debt until the closing date of the project, is impossible and the capital gain resulting from the conversion and business benefit resulting from the sale/transfer of shares in the trading are taxable in accordance with section 45, paragraph 2, of the Act.

As for the transfer of an apartment by gentleman . B on 15.10.2018, when the year-end certificate is not issued by the promoter, In such a case, the tax obligation will be as follows: if, as part of a development agreement, the auditor allowed the developer to enter the premises of his land to do all the things necessary for the construction of housing, it could be said that the auditor handed over ownership of his land to the developer and therefore made a “transfer” in accordance with Section 2 (47) and that he was subject to the same thing as the capital gain in the year in which an agreement was made.



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