12
GO BACK TO INDEX

Section – 45(5A) - Special provisions for computation of capital gains in case of joint development agreement

 

It is proposed to provide that in the case of an assessee being Individual or HUF entering in to Joint agreement for development of a project, Capital gains will be changeable to tax in the previous year when competent authority issues certificate of completion for the whole/ part of the project.

Stamp Duty value of his share in the immovable property on the date of issue of completion certificate increased by the monetary consideration received by him shall be deemed to be the consideration.

If any assessee transfer his share in the property before completion, capital gain will be computed under general provisions of the act in the year of transfer without taking into account above new provisions.

 

The amendment will be effective from 1st April 2018.


GO BACK TO INDEX

17