Joint development agreement

Goverdhan Kedia (Others) (60 Points)

15 February 2017  

A builder has entered into JDA with landowner and tenents. Tenants will receive the 50% of the their holding in developed property. After development of property the deed of conveyance is required to be executed in favour of tenants.

In this case how the cost and sale value will be accounted in the books of developer for the purpose of Section 43CA as there is no consideration has been paid or received by the builder to/from tenants?