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Is capital gain applicable on development agreement

This query is : Resolved 

20 July 2022 a person made an development agreement with a developer on dated march 2022 for developing a unit of flat on his land which is bought by his father on Feb 2006, the agreement is 30% for him and 70% of the developer of the total development.

Please guide me is capital gain is applicable? in this scenario



20 July 2022 Capital gains arises when completed units are handed over to the land owner.



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