Determination of cost of specified transfers u/s 49 - transfer of land or building under a specified agreement (e.f. Joint Development Agreement (JDA)) - Budget 2017-18 w.e.f. AY 2018-19
3 February, 2017
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Cost of acquisition set as deemed full value of consideration for project-share transfers under development agreements, effective 2018-19. The amendment provides that the cost of acquisition of a share in a project consisting of land or building, given as consideration under specified ... Summary
Cost of acquisition set as deemed full value of consideration for project-share transfers under development agreements, effective 2018-19.
The amendment provides that the cost of acquisition of a share in a project consisting of land or building, given as consideration under specified agreements (for example, joint development agreements), shall be the amount deemed as the full value of consideration under the related provision, subject to the proviso excluding certain capital assets, and applies prospectively from the effective date for subsequent assessment years.
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