https://www.taxtmi.com/forum/issue?id=113324 Capital gain is triggered when a landowner under a joint development agreement receives constructed houses; the taxable gain equals the fair market value of the houses allotted to the landowner less the cost of acquisition attributable to the 65% land interest transferred to the builder. The year of taxation for that capital gain is the year in which the property is transferred to the landowner (the year of transfer/possession). en-us Fri, 19 Jan 2018 15:25:10 +0530 Thu, 23 Jan 2025 15:55:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113324 Capital gain is triggered when a landowner under a joint development agreement receives constructed houses; the taxable gain equals the fair market value of the houses allotted to the landowner less the cost of acquisition attributable to the 65% land interest transferred to the builder. The year of taxation for that capital gain is the year in which the property is transferred to the landowner (the year of transfer/possession). Discussion-Forum Income Tax Fri, 19 Jan 2018 15:25:10 +0530 https://www.taxtmi.com/forum/issue?id=113324