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of <h1>Amendment to Income-tax Act: Section 45(5A) Taxation on Capital Gains from Land/Building Transfers Tied to Completion Certificate</h1> Section 45 of the Income-tax Act is amended to include sub-section (5A), effective April 1, 2018. This sub-section specifies that capital gains from the transfer of land or building under a specified agreement are taxable in the year the completion certificate is issued by the competent authority. The stamp duty value on the certificate date, plus any cash received, is considered the full value of consideration. If the assessee transfers their share before the certificate issuance, the capital gains are taxable in that year, and standard provisions apply. Definitions for 'competent authority,' 'specified agreement,' and 'stamp duty value' are provided.
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