Taxability of Real Estate transactions

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SEZ • Section 54GA inserted by the Special Economic Zones Act, 2005 wef 10/2/2006 • Unprecedented privileges: – Section 10AA – Section 115JB(6) – Section 115-O • Section 10AA amended wref 10/2/2006 by substituting sub-section section 4 by Finance Act, 2007
Agricultural Land • What is agricultural land – Whether agricultural or not is essentially one of fact & circumstances of each case; Sarifabib Mohamed Ibrahim v. CIT (1993) 204 ITR 631 (SC) – Determining factors; CIT v. Siddharth J. Desai (1983) 139 ITR 628 (Guj( Guj) – Forest land; Kalpetta Estates Ltd v. CIT (1990) 185 ITR 318 (Ker( Ker)
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Taxability of Real Estate transacti
Page 3 and 4:
Reference to Valuation Officer •
Page 5 and 6:
Section 142A • To estimate the va
Page 7 and 8: Section 50C • Value for the purpo
Page 9 and 10: Questions • Whether AO can refer
Page 11 and 12: Consequences of higher valuation by
Page 13 and 14: Understatement of consideration •
Page 15 and 16: Consequences • K.P. Verghese v. I
Page 21 and 22: Conclusion • AO can refer such ca
Page 23 and 24: Exemption U/s 54 Capital Gains > Co
Page 25 and 26: Profit on sale of capital asset oth
Page 27 and 28: Exemption U/s 54F Net consideration
Page 29 and 30: Cost of plot • Whether cost of pl
Page 31 and 32: Purchase of more than one house •
Page 33 and 34: Purchase of more than one house •
Page 35 and 36: Execution of sale deed • Payment
Page 37 and 38: Section 54F • Pre condition that
Page 39 and 40: Non residential use of house • Ho
Page 41 and 42: Collaboration agreement • Whether
Page 43 and 44: Payment for SFS/ CGHS flat • Whet
Page 45 and 46: Construction with in 3 years • As
Page 47 and 48: Transformation of an asset • Asse
Page 49 and 50: Death of the assessee • Legal hei
Page 51 and 52: Farm House • Whether a farm house
Page 53 and 54: Capital asset acquired u/s 49 • E
Page 55 and 56: Capital Gains Scheme • Funds give
Page 57: Section 54GA • Shifting from urba
Page 61 and 62: Implications • How the distance t
Page 63 and 64: Agricultural land Section 10(37)
Page 65 and 66: Issues Section 54B • Exemption on
Page 67 and 68: Conversion of capital asset into st
Page 69 and 70: Transfer of capital asset • By pa
Page 71 and 72: Transfer by Firm to the Partner Sec
Page 73 and 74: Admission of a partner • Partner
Page 75 and 76: Admission after revaluation • Rev
Page 77 and 78: Section 45 (4) • Whether transfer
Page 79 and 80: Family settlement • Bona fide set
Page 81 and 82: Mode of Computation of Capital Gain
Page 83 and 84: Developers of Real Estates • Tran
Page 85 and 86: Agreement • Agreement to sell may
Page 87 and 88: Recognition of Revenue & Expenses I
Page 89 and 90: Reliable estimates possible Total R
Page 91 and 92: Advance money received Section 51 -
Page 93 and 94: Treatment of advance • Cost of ac
Page 95: Presentation by Mr Sunil Arora aror
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Taxability of Real Estate transactions

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