Well-written articles. It is an eye opener for many owners who are under the general impression that, because it is not taken into account either in the transfer of built floor or apartment to the owner and the owner to build to the owner in the rest of the building for them, there is no capital gain and therefore the payment of no tax on the capital objective by the owner. I have always found that, in cooperation agreements, there is always an element of capital gains tax that the owner must alleviate in the circumstances. In a given scenario of the real estate industry and the slowdown in JDA projects, the proposed amendment is: the application of A.Y 2018-19 is a welcome measure that eases the burden on individual property owners or HUF, concluding the JDA2 agreements with specified agreement, capital gains being part of the income tax of the year in which the competent authority issues the certificate of completion for all or part of the project (hereafter referred to as “new project”). 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. If the expert converted his land into equity negotiation and entered into a development contract with the developer for the construction of a residential building, the capital gain from converting land into buildings and trading in previous years, during which the share of persons noted in real estate land was sold or retained for personal use by a company evaluable in accordance with the construction agreement, and the corresponding incomes should be properly taxed. If it is a JDA, that is, a joint development agreement, the income is taxed the year in which you receive the final certificate. In the current scenario, where different players related to the real estate industry really need to be promoted by the government in different corners, encouraging property owners to conclude JDA agreements is a highly anticipated and welcome step.
While there are a number of inconsistent concerns that I hope the government should address, the Department of Finance has reviewed various submissions, while proposing an amendment that will help end long-term uncertainty and significantly reduce litigation. I booked an apartment with agreement for the sale of Rs 25 Lakh and contract to build Rs 30 lakh. Should I pay TDS?- Rohit Waghmare Delivery date should be the date of the agreement for the sale of Ques homes: How does the taxation of cooperation contracts work? The property law sold by the owner is a capital property under the Income Tax Act 1961 and derives capital profits from its sale on the basis of a cooperation agreement. However, if you have entered into the agreement on or after the agreement on 01.04.2017, the capital gain will apply after the completion of the construction and the completion certificate.