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Capital Gain - date of transfer of land or building under a specified agreement (e.f. Joint Development Agreement (JDA)) - method of valuation in such cases - Budget 2017-18 w.e.f. AY 2018-19

Dated:- 3-2-2017 - Clause - 022 - Amendment of section 45. THE FINANCE BILL, 2017 Clause 22 of the Bill seeks to amend section 45 of the Income-tax Act relating to Capital gains. Under the existing provisions of the said section, the Capital gains is chargeable in the year in which transfer takes place except in certain cases as provided in the said section. It is proposed to insert a new sub-section (5A) in the said section so as to provide that where the Capital gains arises to an assessee bei .....

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ate as increased by consideration received in cash, if any, shall be deemed to be the full value of the consideration received or accruing as a result of the transfer of the capital asset. It is also proposed to provide that the provisions of this sub-section shall not apply where the assessee transfers his share in the project to any other person on or before the date of issue of said certificate of completion and the capital gains shall be deemed to be the income of the previous year in which .....

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