Deferred Capital Gains – Registered Development Agreement u/s 45(5A)

Applicable From 01-04-2018 (i.e., Assessment Year 2018-19 relevant previous year 01.04.2017 to 31.03.2018)
Eligible Assessee Capital Gains arises to an assessee, being Individual or HUF
Eligible Transaction Capital asset, being Land or Building or both, under a specified agreement
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
Accrual of Capital Gains The capital gain 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;
Full Value of Consideration

(for section 48)

the stamp duty value, on the date of issue of the completion certificate, of his share, being land or building or both in the project, as increased by the consideration received in cash, if any, shall be deemed to be the full value of consideration received or accruing as a result of transfer of the capital asset.
Prior transfer by Assessee Where the assessee transfers his share in the project on or before the due date of issue of completion certificate
the capital gain shall be deemed to be income of the previous year in which such transfer takes place and
the provisions of this Act, other than Section 45(5A) shall apply for the purpose of determination of full value of consideration received or accruing as a result of such transfer.

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