Sir
Whether 194 IA is applicable if a builder and land owner entered into a joint venture and construct flats on an ageement to provide some flats to the land owner as consideration of the land
kindly give quick reply as it is urgent
Divya Mol P (CA Job) (74 Points)
06 May 2015Sir
Whether 194 IA is applicable if a builder and land owner entered into a joint venture and construct flats on an ageement to provide some flats to the land owner as consideration of the land
kindly give quick reply as it is urgent
CA HAYEDAR SHAIKH
(Practice )
(622 Points)
Replied 06 May 2015
Dear Divya,
Section 194 IA shall not be applicable since the consideration on transfer of immovable is not involved.
Divya Mol P
(CA Job)
(74 Points)
Replied 06 May 2015
thank you
but whether the number of flats alloted to the land owner is consideration or not
CA HAYEDAR SHAIKH
(Practice )
(622 Points)
Replied 06 May 2015
I am telling that consideration in money not in kind.
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