Applicability of capital gains tax

Facts:

1. Landlords entered into JDA with developers in March 2021 to build a residential complex.

2. As per the JDA the developers will be getting 50% of the complex and 50% of the land in lieu of the development. The JDA clearly earmarks how the square footage is divided between landlords and builders.

There are multiple landlords and their shares are clearly elaborated in the JDA but as undivided shares.

3. Current status of the project is that construction is not complete. It is due to be completed in the next 6 to 7 months post.

4. Occupancy certificate has not been obtained from Govt. yet 

5. No allotment letter has been issued by the builders yet to the landlords

6. One of the land owner agreed to sell the flat & received advance for his share of flat.


7. The builders have sold a minor part of their share, but not registered to the buyers.

Questions.
a) Applicability of capital gains tax on 50% land foregone by landowner as per JDA & u/s 45 5(A), bcz he taken advance before completion certificate.

b) Applicability of capital gains tax on his share of falt selling.

Thanks in advance
Venu Prasad.