Consideration received for sale of tdr certificate
This query is : Resolved
20 April 2019
Dear Experts,
Land land surrender land to Government for that Government issued TDR(Transferrable Development Rights) certificate. Land lord sold TDR certificate and received consideration from builder. What is the Tax implication?
1. Is it capaital gain tax or not?
2. Is it capital receipt not taxable?
Land land surrender land to Government for that Government issued TDR(Transferrable Development Rights) certificate. Land lord sold TDR certificate and received consideration from builder. What is the Tax implication?
1. Is it capaital gain tax or not?
2. Is it capital receipt not taxable?
Amol S Joglekar
(Expert)
20 April 2019
it is capital gain. It shall be taxed under capital gains
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Amol S Joglekar
(Expert)
23 April 2019
No. Sec. 50C is applicable to land or building or both.
TDR does not fall in that
TDR does not fall in that
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23 April 2019
TDR certificate sell at lesser consideration but Stamp duty will pay on TDR value. TDR value is more but sale agreement value is less.. what stand can we take when we receive notice from IT department saying pay tax on registered value. Only for this reason I raised about section 50C.
Can you please help me on this
Can you please help me on this
Amol S Joglekar
(Expert)
23 April 2019
you can tell them that sec 50C is not applicable to TDR
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Amol S Joglekar
(Expert)
24 April 2019
you are most welcome
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