Tag: Section 45(5A)
CBDT prescribes Best Practices and Standard Operating Procedure for Assessing Capital Gains on Joint Development Agreements (JD As) under Section 45(5A) of the Income Tax Act, 1961. Joint Development Agreement (JDA) means a registered agreement in which a person owning land or building agrees to allow another person …
Amendment to provisions of transfer of revalued or self generated capital asset to partner on dissolution or reconstitution Rationalisation of provision of transfer of capital asset to partner on dissolution or reconstitution in Budget 2021-22 The existing provisions of section 45 of the Income Tax Act 1961 inter …
Section 45(5A) is prospective in nature not retrospective. The section provides that the date of handover of the possession is the criteria to consider capital gains and not the date of agreement. ABCAUS Case Law Citation: ABCAUS 2943 (2019) (05) ITAT Important Case Laws Cited/relied upon by the …
