please let me know taxability on owner of land under registered JDA
And also when to pay tax on the same.
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Sec 45(5A) of income tax act
Replies (8)
https://cleartax.in/s/income-tax-on-joint-development-agreement
Thanks
Welcome.
Sir one point is missing that the property is purchased before April 1 2001. let us say in fy 1998-1999 what capital gain tax from 1998 to 31 st march 2001.
You are at liberty to take COA as on purchase date or the FMV as on 01.04.2001, whichever is higher, but indexation will start from 2001 only, which is considered as base. You cannot take indexation from 1998 to 2001.
Sir the sec. is clear to me. thanks a lot.
My pleasure.
The taxability of the owner of the land under a registered Joint Development Agreement (JDA) can vary based on the tax laws and regulations of the specific country where the property is located. Since tax laws differ among countries, it's important to consider the tax rules applicable to the relevant jurisdiction.
In general terms, under a Joint Development Agreement, the landowner enters into an agreement with a developer to jointly develop the land. The developer usually undertakes the construction and bears the expenses of the development in exchange for a share of the developed property or monetary consideration.
For further more detailed information on this topic visit: Top reasons to receive an income tax notice
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