IT – Assessment of Real Estate Developers and MembersPosted: August 4, 2013
A very interesting detailed analysis for Builders and Real Estate Developers including aspects of Taxation for members such as
Liability of Income/Capital Gain Tax, if any, on:-
- Additional area in the hands of individual members.
- Cash compensation received upon surrender of entitled additional area, in part or in full, by an individual member.
- Corpus Money received by the individual members from the Developer in lieu of surrender of part entitlement of FSI/Development rights.
- Corpus Money received by the Society from the Developer and subsequently distributed to its members.
- Rent for Temporary Alternative Accommodation including Deposits, if any.
all this, along with important decided case laws
Click Here for the detailed analysis –