Shyam Vasudevan (31 Points)
14 December 2020The newly introduced section 45 ( 5A) of the IT Act 1961, takes care of Capital Gains if the joint development agreements are registered but in case of JDA which is not registered when does the Capital Gain arise? as the unregistered JDA does not amount to transfer as decided by the Supreme Court in CIT VS BALBIR SING
sabyasachi mukherjee
(27354 Points)
Replied 14 December 2020
Shyam Vasudevan
(31 Points)
Replied 15 December 2020
Thanks Sir ! In a case the JDA was entered into with the developer in August 2019,that is financial year2019-2020 relevant to the assessment year 2020-2021 The JDA was not registered. The possession of the land handed over to the developer and after obtaining necessary sanction from the corporation authorities the work is under progress. In this case when does the capital gain arises and which assessment year capital gain tax has to be given
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