siva andhavarapu (ca final) (388 Points)
30 January 2017Can anyone please tell me how to caliculate capital gain for a land owner under joint development agreement.the assesse is receiving cash aswellas 2 flat as consideration from developer.please tell how to caliculate capital gain and also actual date of transer to be taken.whether he is eligble u/s 54f or not?
Pls give ur suggetions...urgent
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170177 Points)
Replied 30 January 2017
1. Date of transfer would be date of handing over of possession, or GPA issued to developer.
2. Sale value would be cash receipt + circle rate of both the flats to be received from developer
3. Yes, eligible for exemption u/s. 54F & 54EC, if long term gains.
Reply based on available data with some assumptions, Actuals can vary as per documentation.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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