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Development Agreement Tax implication for the Landlord

Income Tax - Started By: - Raghav Kumar - Dated:- 6-12-2015 Last Replied Date:- 27-12-2015 - Hi All,I have a set of queries on tax implications for landlord when he enters a development agreement with a builder. At a high level the queries can be cla .....

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at his cost and will give the landlord four flats as his share. When does the capital gain arise? Is it on the date of registration?(In this case the capital gain is not realized by the landlord as the construction is yet to start and no money was r .....

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rect me if am wrong.Assume the land is of 1000 sqr.yrds.Builder will be constructing ten flats at his cost in that land. Landlords share is four flats and builders share is six flats i.e. 40:60 ratio(Landlord : Builder).Landlord and Builder have regi .....

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yards of land as landlord has transferred the GPA to builder even though there was no monetary consideration. Hence while filing tax for AY 2015-16 he has to show capital gains. Now as the future consideration for transferring 600sq.yards to builder .....

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00.Now after indexation the Capital gains are ₹ 25,00,000.Is my understanding correct in arriving at capital gains as mentioned above?Hence before filing income tax returns for AY2015-16 he has to either invest ₹ 25 Lakhs in REC bonds/Pur .....

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tion was in progress. These flats were sold on different dates between 1st-July-2015 to 25th-Nov-2015.The sale price of each flat is ₹ 20,00,000. Hence he made a Long term capital gain of ₹ 80,00,000 lakhs by selling four flats as there i .....

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e before filing income tax returns for AY2016-17 he has to do one of the following to avoid capital gains tax: Invest ₹ 50Lakhs in REC bonds and Purchase a flat for ₹ 55 Lakhs assuming landlord deposited the earlier capital gains of ͅ .....

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