http://taxtitans.com/tax_questions_and_answers/index.php/the-builder-is-offering-large-sums-for-the-redevelopment-of-our-co-op-housing-society-are-the-gains-taxable/ Just another WordPress weblog Mon, 12 Dec 2011 10:33:15 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://taxtitans.com/tax_questions_and_answers/index.php/the-builder-is-offering-large-sums-for-the-redevelopment-of-our-co-op-housing-society-are-the-gains-taxable/comment-page-1/#comment-160 Alok Saksena Tue, 10 May 2011 07:37:00 +0000 http://taxtitans.com/tax_questions_and_answers/?p=56#comment-160 In case the consideration received towards TDR for surrender of land to Government and the said land along with other land was acquired prior to the D C Rules 1991 can it be said that the TDR is an additional Right and having no costs especially if the entire FSI (of retained and surrendered) has been consumed by the owner. In case the consideration received towards TDR for surrender of land to Government and the said land along with other land was acquired prior to the D C Rules 1991 can it be said that the TDR is an additional Right and having no costs especially if the entire FSI (of retained and surrendered) has been consumed by the owner.

]]> http://taxtitans.com/tax_questions_and_answers/index.php/the-builder-is-offering-large-sums-for-the-redevelopment-of-our-co-op-housing-society-are-the-gains-taxable/comment-page-1/#comment-157 archives » ITO vs. Hemandas J. Pariyani (ITAT Mumbai)» Latest unreported judgements Fri, 06 May 2011 07:31:25 +0000 http://taxtitans.com/tax_questions_and_answers/?p=56#comment-157 [...] Note: The result of this verdict & Raj Ratan Palace Co-op Hsg Soc vs. DCIT (ITAT Mumbai) is that neither the Society nor the individual members are taxable in respect of amounts received for redevelopment of property. See also Are the sums offered by the builder for redevelopment of our co-op hsg society taxable? [...] [...] Note: The result of this verdict & Raj Ratan Palace Co-op Hsg Soc vs. DCIT (ITAT Mumbai) is that neither the Society nor the individual members are taxable in respect of amounts received for redevelopment of property. See also Are the sums offered by the builder for redevelopment of our co-op hsg society taxable? [...]

]]> http://taxtitans.com/tax_questions_and_answers/index.php/the-builder-is-offering-large-sums-for-the-redevelopment-of-our-co-op-housing-society-are-the-gains-taxable/comment-page-1/#comment-45 Prakash Jhunjhunwala Wed, 15 Sep 2010 16:33:21 +0000 http://taxtitans.com/tax_questions_and_answers/?p=56#comment-45 Please note that in case the consideration is received towards Transfer of development rights (TDR) which is obtained after surrendering a part of land to BMC/other authority and obtains proportionate TDR from the authorities, then it could be assumed that the cost of TDR is inbuilt in the cost of land surrendered, then in such case, the sum received from transfer of TDR may not be exempt as it has a cost of acquisition. Please note that in case the consideration is received towards Transfer of development rights (TDR) which is obtained after surrendering a part of land to BMC/other authority and obtains proportionate TDR from the authorities, then it could be assumed that the cost of TDR is inbuilt in the cost of land surrendered, then in such case, the sum received from transfer of TDR may not be exempt as it has a cost of acquisition.

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