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CAPITAL GAIN ON JDA OF LAND ?

This query is : Resolved 
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(Querist)
25 March 2024 A PERSON PURCHASED LAND IN 2011 FOR 25 LAKH. GIVEN THAT PROPERTY FOR FOR DEVELOPMENT WITH REGD. JDA ON 28.03.22 (STAMP DUTY VALUE 66 LAKH). IN CONSIDERATION HE WILL RECEIVED 10 FLATS. PROJECT WILL COMPLETE IN 2025. PERSON SOLD TWO FLATS IN THE YEAR 2022-23. CONSTRUCTION IS GOING ON. WAHT WILL BE TAX IMPLICATION. PLEASE GUIDE.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
05 May 2024 LTCG liability will arise as and when flats are sold in between. For remaining at the time CC being issued.

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