| Question And Answer | |
|---|---|
| Subject: | Capital gain jv development |
| Category: | Income-Tax |
| Querist: | Mani |
| Answered by: | Law Intern |
| Tags: | Capital Gains, redevelopment |
| Date: | April 6, 2026 |
Jv with builder 1.9.24 half ground for one flat for me (owner) and 2 for builder with consideration of 1flat with 20 lakhs cash (bank transfer 5 trs during 2025) project to be completed 30 June 2026.
Land is acquired by settlement deed of my father property
3.05.24 register value 40 lakh
What would be my capital gain
U/s 45(5A), the capital gain due to the redevelopment will arise in the year the CC is granted. The consideration will be the stamp duty value on the date of CC. The cost and holding period will be that of your father. The capital gain can be claimed exempt u/s 54 if you satisfy the conditions.
Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor itatonline.org and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of itatonline.org