Applicability of Section 45(5A) on rural agricultural land transferred under JDA

Whether the provision of section 45(5A) of Income Tax Act, 1961 is applicable on transfer of rural agricultural land under Joint Development Agreement (JDA)? The rural agricultural land is not a capital asset as per section 2(14) of the Act, hence, in my opinion the provision of section 45(5A) should not be applicable on transfer of rural agricultural land under JDA. Accordingly, any capital gain from transfer of such land under JDA should be exempt.

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  Joint Development agreement entered with builder , when the transfer of land takes place and lability of tax ?

In Joint Development Agreement entered into by the owner of the land with the builder, when the transfer of land takes place and when the owner is liable to tax?

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  JDA joint dev agreements

1] If an owner of land/bldg is other than individual or huf , will JDA attract capital gain tax u/s 2[47] soon upon registering the same in the case where only area sharing is fixed as consideration ? If yes, what shall be its valuation ? Will it make any difference if huge refundable securities is paid to owner by co-developer, which is over and above are sharing ? 2] Will it make any difference, if JDA agreement is unregistered ? 3] Will section 50D come into play in both above cases ?

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