Calculation of the capital gain at the time of the actual sale of 2 floors. For the owner of the land, the ownership of the two apartments is the counterpart of the sale of a part of the country (this could be a long-term gain and it could be led to a dedcution according to sectinon 54F if the ocnditions are fulfilled, since these facts are not available, you can elaborate it Ans: If you concluded a cooperation contract before 01.04.2017, According to the author, you were subject to capital gains tax at the time of the conclusion of the contract with the contracting authority. Mon Borther (developer) concluded in August 2012 a cooperation agreement with the owner of the land for the construction of his land. Construction should be done basement, soil, first and second. On the makinf construction, my brother (developer) will have the first floor and the second floor and the owner of the property will receive BAsement more ground floor. The land right sold by the owner is a capital asset under the Income Tax Act 1961 and derives capital gains from its sale in accordance with a cooperation agreement. If you completed JDA after 2017, the capital gain will apply at the time of construction completion. 4. Accordingly, the consideration for “A” would be the amount of paragraph 3 crore plus the market value of the six dwellings received by “A” from the contracting authority. What was abandoned by “A” is 25% of the country instead of the 6 dwellings and the sum of Rs. 3 crore would therefore reduce 25% of the cost of the land in this case by the consideration calculated above to determine the capital gain. The length of time land is held would determine whether the profit in question is short-term or long-term.
If the profit is a long-term gain, the benefit of indexation would be available. 3. In such a scenario, the heart of the transaction lies in the fact that “A” abandons its total proportional share of 25% of the land, while “A” would receive six dwellings built free of charge by the client, in addition to the sum of paragraph 3 crore. Years: The provisions of subsection (5A) do not apply where the owner of the land transfers his share in the project on or before the date of issue of the certificate of completion and the owner of the land generates capital gains in accordance with the other provisions of the law and the capital gains are considered as income from the previous year in which the transfer takes place. Advantage of the scheme that is not available at the time of transfer by the owner of the land It is also provided that the benefits of this scheme do not apply to a beneficiary who transfers his share of the project to another person on or before the date of issue of this graduation certificate. . . .