https://www.taxtmi.com/highlights?id=101944 Under a joint development agreement, transfer for capital-gains purposes may occur when the developer is permitted to enter the land and undertake development in part performance of the agreement, regardless of a recital that possession was not delivered. Receipt or sale of allotted flats is treated as a separate taxable stage and does not defer the transfer of land and development rights. Consideration for the landowner is determined by the stamp duty value of the built-up area received, rather than the developer's construction cost, with applicable indexed cost and expense deductions. Under the then applicable law, multiple allotted residential flats may qualify collectively as a residential house for exemption under sections 54 and 54F. en-us Wed, 22 Jul 2026 08:48:46 +0530 Wed, 22 Jul 2026 08:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101944 Under a joint development agreement, transfer for capital-gains purposes may occur when the developer is permitted to enter the land and undertake development in part performance of the agreement, regardless of a recital that possession was not delivered. Receipt or sale of allotted flats is treated as a separate taxable stage and does not defer the transfer of land and development rights. Consideration for the landowner is determined by the stamp duty value of the built-up area received, rather than the developer's construction cost, with applicable indexed cost and expense deductions. Under the then applicable law, multiple allotted residential flats may qualify collectively as a residential house for exemption under sections 54 and 54F. Highlights Income Tax Wed, 22 Jul 2026 08:48:46 +0530 https://www.taxtmi.com/highlights?id=101944