Taxation of Real Estate Developers & Joint Development Arrangements with Accounting Aspects

This book is a complete guide to all matters pertaining to the taxation of real estate developers & joint development arrangements from an income tax & accounting perspective.

This book addresses the tax issues relating to the following:

Land Owner
Developer
Other Stakeholders, such as Flat Owners or Buyer of Real Estate
The Present Publication is the 6th Edition and has been amended by the Finance Act 2023. This book is authored by Dr Raj K. Agarwal & Dr Rakesh Gupta with the following noteworthy features:

[Critical Income Tax Issues] relating to the following are covered:
Determination of the year of transfer of capital asset
Value of sale consideration in the case of joint development of the real estate, particularly when a joint development agreement is drafted in a complex manner
[Analysis of Provisions] Section 2(47), i.e., the definition of ‘Transfer’ of Capital Asset
Section 45(2), i.e., the Conversion of Capital Assets into Stock-in-trade
Section 50D, i.e., the Fair Market Value deemed to be the Full Value of Consideration
Deeming Provisions of Sections 43CA, 50C, 56(2)(x)(b) & 23(5)
Section 80-IBA, i.e., the granting of deductions to developers for the construction of affordable housing
[Analysis Chargeability of Capital Gains on Transfer of Asset in the hands of Land Owner] under sub-section (5A) to Section 45 of the Income Tax Act, 1961
[Attraction of Capital Gains Tax Liability] in case of transfer of Agricultural Land
[Analysis of various Judgments of ITAT & High Courts] applicable to the Land Owner and Real Estate Developer in the case of Joint Development of Real Estate
[In-depth Analysis of Guidance Note] on Accounting for Real Estate Transactions (Revised 2012) issued by the ICAI, applicable to Real Estate Developer
[Analysis of Applicability of the Principle of Revenue Recognition] to Real Estate Developer at different points in time
[Analysis of Applicability of Income Recognition] to Real Estate Developer under IFRS & ICDS Regime
The detailed contents of the book are as follows:

Joint Development Arrangement for Real Estate
Tax Issues for Real Estate Developers
History of Accounting Standards Applicable to Real Estate Developers
Analysis of Guidance Note on Accounting for Real Estate Transactions (Revised 2012)
Revenue Recognition for Real Estate Developers under IFRS
Impact of Income Computation and Disclosure Standards (ICDS)
Tax Issues for Real Estate Owners
Capital Asset vs Business Asset
Analysis of Provisions of Section 45(2) regarding Conversion of Capital Asset into Stock in Trade
Analysis of Provisions of Section 2(47)
Analysis of Provisions of Section 50D
Analysis of Provision of Section 45(5A)
Taxability of Capital Gain Arising on Transfer of Agriculture Land
Analysis of the Provisions of Section 50C, Section 43CA, Section 56(2)(x)(b) & Section 23(5)
Analysis of Provisions of Section 80-IBA