{"id":41509,"date":"2024-04-17T14:48:41","date_gmt":"2024-04-17T09:18:41","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=41509"},"modified":"2024-04-17T14:48:41","modified_gmt":"2024-04-17T09:18:41","slug":"redevelopment-taxable-in-the-hands-of-society","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/redevelopment-taxable-in-the-hands-of-society\/","title":{"rendered":"Redevelopment Taxable in the hands of Society"},"content":{"rendered":"<p>Hello ,<\/p>\n<p>&nbsp;<\/p>\n<p>In one of the CHS&#8217;s case , redevelopment agreement entered into between Society and Builder. Redevelopment agreement got registered and builder had paid stamp duty on the same. Subsequent to this , department has sent notice to Society claiming that since the agreement is entered into between society and builder and society has benefitted with the sum of Rs&#8230;&#8230;( Value of Development agreement)<br \/>\nin the form of new construction, enhanced area and<br \/>\nrental expenses in the existing property as per the agreement which is<br \/>\notherwise taxable under the head Income from Other Sources.<\/p>\n<p>Whether the said valuation of redevelopment agreement is liable to be taxed in the hands of Society especially in case where property is still not vacated by the members.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[],"qa_category":[23],"qa_tag":[24,459],"class_list":["post-41509","qa","type-qa","status-publish","hentry","qa_category-income-tax","qa_tag-capital-gains","qa_tag-redevelopment"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/41509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=41509"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=41509"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=41509"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=41509"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=41509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}