Query on Applicability of Section 45(5A)

Subsection 45(5A) introduced with effect from 01-04-2018, i.e., from the assessment year 2018-19.

As per this new sub-section 5A capital gain liability gets triggered only after certificate of completion for the whole or part of the project is issued by the competent authority.

This newly introduced provision is in contradiction with the pre-amended provision whereby capital gain liability got triggered the moment the property was put in possession of the builder/developer.

benefits of section 45(5A) is not available for JDA enter before 1/4/17