05 November 2008
Mr.X being the owner of land has entered into a Joint Development Agreement in oct.2007. His share in the developed property is 8 units. He has purchased the property in 2004 May. He wants to retain 2 units and sell the remaining 6 units.
What is the date to be taken for calculation of capital gains?
whether it is a short term or long term capital gain If Mr. X sells his property now(NOV.2008)?
Whether the date of the joint development agreement or date of registration of flats to be taken for the purpose of computation of capital gains?
What would be the position if theowner of the land hands over the possession of the property(flats are registered)in the following circumstances: 1.sells 3 flats in nov.08 & 3 in june'09 and retains 2 flats for himself. 2.sells 6 flats in june09 & retains 2 flats for himself. 3. sells 6 flats in nov.08 and retains 2 flats for himself.
07 November 2008
Sir, What is the date of acquisition and improvement to be taken, is it from the date of purchase of land or from the date on which Joint Development agreement was signed with the developer?
07 November 2008
Sir, What is the date of acquisition and improvement to be taken, is it from the date of purchase of land or from the date on which Joint Development agreement was signed with the developer?
08 November 2008
To the extent it relates to the cost of building, all will be treated as short term if they are sold wihin 36 months of possession. As regards the the undivided share in land, it will be long term.
11 November 2008
how is the undivided share of land to be calculated for the owner to be calculated? How is the land to be treated on the date of J.D.A. Should it be treated as sale on the date of signing the j.d.a. with the builder?
11 November 2008
how is the undivided share of land to be calculated for the owner to be calculated? How is the land to be treated on the date of J.D.A. Should it be treated as sale on the date of signing the j.d.a. with the builder?
13 November 2008
THe share of undivided land is known. The common original cost is known. Calculate the cost in proportion. The sale registration value is also known.
13 November 2008
how is the undivided share of land to be calculated for the owner to be calculated? How is the land to be treated on the date of J.D.A. Should it be treated as sale on the date of signing the j.d.a. with the builder?
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