Can anyone please tell me how to caliculate capital gain for a land owner under joint development agreement.the assesse is receiving cash aswellas 2 flat as consideration from developer.please tell how to caliculate capital gain and also actual date of transer to be taken.whether he is eligble u/s 54f or not?
Pls give ur suggetions...urgent
1. Date of transfer would be date of handing over of possession, or GPA issued to developer.
2. Sale value would be cash receipt + circle rate of both the flats to be received from developer
3. Yes, eligible for exemption u/s. 54F & 54EC, if long term gains.
Reply based on available data with some assumptions, Actuals can vary as per documentation.
M N Rao & Associates LLP
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S.B.G. & CO. CHARTERED ACCOUNTANTS
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