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of <h1>Finance Bill 2017 Amends Section 45: Capital Gains on Property Transfers Taxed Upon Completion Certificate Issuance.</h1> The Finance Bill, 2017 proposes an amendment to section 45 of the Income-tax Act concerning capital gains from land or building transfers under specified agreements like Joint Development Agreements. A new sub-section (5A) will charge capital gains to income tax in the year a completion certificate is issued by a competent authority. The stamp duty value, plus any cash consideration, will be deemed the full value of the consideration. This sub-section does not apply if the asset is transferred before the certificate's issuance, reverting to existing provisions. The amendment is effective from April 1, 2018, for the assessment year 2018-2019 onward.
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