Valuation of construction services: deemed based on comparable apartment pricing to independent buyers, net of land value. Supply of services by an unregistered person to a promoter is subject to special valuation: if the supply includes transfer of land or undivided share, the taxable service value equals the total amount charged minus the deemed land value, with deemed land value treated as one third of the total amount. 'Total amount' includes consideration for the service and amount charged for transfer or lease/sublease of land. For transfers of development rights or FSI against construction of apartments, the construction service value is deemed equal to the total amount charged for similar apartments to independent buyers nearest the transfer date, less the land value as prescribed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Valuation of construction services: deemed based on comparable apartment pricing to independent buyers, net of land value.
Supply of services by an unregistered person to a promoter is subject to special valuation: if the supply includes transfer of land or undivided share, the taxable service value equals the total amount charged minus the deemed land value, with deemed land value treated as one third of the total amount. "Total amount" includes consideration for the service and amount charged for transfer or lease/sublease of land. For transfers of development rights or FSI against construction of apartments, the construction service value is deemed equal to the total amount charged for similar apartments to independent buyers nearest the transfer date, less the land value as prescribed.
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