Joint development agreement clauses

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Sunil (Querist)
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12 February 2024 what clause should be put in JDA / GPA so that capital gain is not realised on the date of signing JDA/GPA.

as per the new rule is only the payment of capital gain pushed to year of obtaining OC or even the transfer date is pushed. This causing a problem in treating asset as long term vs short term.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 February 2024 Transfer of flats to land owner will be made after obtaining competition certificate.

As per the provisions of Section 45(5A), you will have to pay tax on these capital gains in the year in which the certificate of completion is issued for the whole or part of the property. This means you will have to pay tax in the year in which the building project is completed.

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