Q1. When does the tax liability occure in JD Aggreement? Is it at the time of signing JDA or after completion of Apartment? How is liable to deduct TDS in JDA?
Q2. Owner gets demeed sale consideration in the form of 2 Flats. And owner retains 1Flat for his residence and proposes to sell the other.
In the above case,can owner claim cost of construction on that Flat? If not, reasons? Other provision to reduce tax in this capital gains.
1. Till AY 2017-18, as and when transfer of the property was affected. May be at the time of giving possession or registration of any transfer deed.
2. Calculated on II tier, first capital gains as on transfer of land, then transfer of flat or constructed units.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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