Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Under a joint development agreement, delivery of possession...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exemption treatment.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Under a joint development agreement, delivery of possession solely for development does not trigger a taxable transfer unless it involves title, consideration or part performance under the Transfer of Property Act. For eligible individuals or HUFs, capital gains may instead arise when the completion certificate is issued. Consideration for land transferred is determined by the stamp duty value of the completed built-up area received, not the developer's construction cost. Multiple allotted residential flats may qualify as investment in a residential house for capital-gains exemption. On later sale, the flats' cost corresponds to the value used at initial taxation, and their holding period runs from the occupancy certificate. Deemed annual value applies only to stock-in-trade, not capital assets.
Under a joint development agreement, delivery of possession solely for development does not trigger a taxable transfer unless it involves title, consideration or part performance under the Transfer of Property Act. For eligible individuals or HUFs, capital gains may instead arise when the completion certificate is issued. Consideration for land transferred is determined by the stamp duty value of the completed built-up area received, not the developer's construction cost. Multiple allotted residential flats may qualify as investment in a residential house for capital-gains exemption. On later sale, the flats' cost corresponds to the value used at initial taxation, and their holding period runs from the occupancy certificate. Deemed annual value applies only to stock-in-trade, not capital assets.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
