9911796707
TMI BlogAmendment of section 45.X X X X Extracts X X X X X X X X Extracts X X X X ..... l gain arises to an assessee, being an individual or a Hindu undivided family, from the transfer of a capital asset, being land or building or both, under a specified agreement, the capital gains shall be chargeable to income-tax as income of the previous year in which the certificate of completion for the whole or part of the project is issued by the competent authority; and for the purposes of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as a result of such transfer. Explanation.-For the purposes of this sub-section, the expression- (i) competent authority means the authority empowered to approve the building plan by or under any law for the time being in force; (ii) 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 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an assessee being an individual or Hindu undivided family, from the transfer of a Capital asset, being land or building or both, under a specified agreement, the capital gains shall be chargeable to income-tax as income of the previous year in which the certificate of completion for the whole or part of the project is issued by the competent authority. It is further proposed to provide that the st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccruing as a result of such transfer. It is also proposed to define the expressions competent authority , specified agreement and stamp duty value . This amendment will take effect from 1st April, 2018 and will, accordingly, apply in relation to the assessment year 2018-2019 and subsequent years. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
