In the event of the conversion of land held as stock in trade [SIT], there will therefore be a capital gain that will be taxed during the year of the sale/sale of SIT. When is the time for the sale/sale of commercial inventory in the event of a transfer of land (after conversion to SIT) to developers under the JDA? [5A) Notwithstanding the information contained in subsection 1, capital gains are: when the capital gain is paid to an appraiser, as an individual or undivided Hindu family, the transfer of an asset, a building or both, as part of a profit tax agreement given as income from the previous year in which the certificate of completion of all or part of the project is issued by the competent authority; and for the purposes of Section 48, the value of the stamp applies to the date the certificate was issued, as real estate or property, or both in the project, as if any increased by the consideration received in cash, such as the full value of the consideration it receives or that it is framed as a result of the transfer of the asset. : GbA taxes up to 31.03.2017 capital gains are taxable pursuant to Section 45 of the Income Tax Act 1961. Under Section 45 of the Act, capital gains in the year in which the transfer is made are, except in some cases, decoud. Under Section 2.47, the term “transfer” includes, among other things, “any transaction in which the ownership of a property may be acquired or partially enforced under a contract of the case within the meaning of Section 53A of the Transfer of Ownership Act of 1882 (4 of 1882),” even if the right was not transferred. Only applies if a registered contract is executed. The JDA/DA clauses determine whether this is a sale transaction or a service transaction in which the development rights of the landowner are made available to the developer and the JDA/DA documents must be carefully drafted (iii) “indexed acquisition cost” an amount; which bears the same share of the cost as the cost inflation index for the year of asset transfer is borne by the cost inflation index for the first year in which the asset was held by the notator or for the year beginning April 1, 2001, depending on the subsequent date.” The after-sales reading will clearly show that indexing benefits are available until the transfer year. – Owners allow and allow the developer to enter Schedule`s property only for development purposes. As part of the joint development contract, the landowner offers the developer a development right for the development of land. The landowner gives the developer a general mandate to obtain the necessary approvals from various public authorities necessary for construction. As for Mr. . B transfer of an apartment on 15.10.2018, The date on which the closing certificate was not received by the promoter will, in this case, be subject to the tax obligation: the stock in the trade can only be considered to be carried forward the year in which the notator executed the deed of sale by transferring the stock into the trade, and not if the expert has given the owner a commercial stock of common development.
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