Specified Agreement - Definition / Legal Terminology - Income Tax

Explanation.(ii) - For the purposes of sub-section 5A of section 45 of the Income tax Act 1961, Specified Agreement means- a registered agreement in which a person owning land or building or both, agrees to allow another person to develop a real estate project on such land or building or both, in consideration of a share, being land or building or both in such project, whether with or without payment of part of the consideration in cash;