Development Agreement Income Tax

== 2020-21, he entered the JDA registered with developers and handed him the country for development. The core of the crucial provisions of the JDA was: (vi) to permit any transaction (whether through membership or acquisition of shares in a cooperative, partnership or other association of persons or by an agreement or understanding or otherwise) that has the effect of a transfer or enjoyment of real estate. According to the timing of the agreement As is apparent from the agreements and legal principles involved, all housing received in the development contract would technically become a home for claim u/s 54/54F, although they are made up of independent entities. – Nothing in the agreement shall be construed as the granting of ownership in the event of partial performance of the agreement, in accordance with paragraphs 2 (47) (v) and 2 (47) (vi). If, under a development agreement, assessee allowed the developer to enter premises on his land in order to do all the things necessary for the construction of housing, it could be said that assessee has ceded ownership of its land to the developer and that there is therefore a “transfer” under Article 2, paragraph 47, and that it was taxable as a capital gain in the year in which the contract was concluded. . . .


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