Description
Taxmann Publications Taxation of Real Estate Developers & Joint Development Arrangements with Accounting Aspects 4th Edition 2021 by Raj K Agarwal and Rakesh Gupta
A Complete Guide to all matters pertaining to Taxation of Real Estate Developers & Joint Development Arrangements from an income tax & accounting perspective.
The Present Publication is the 4th Edition, amended by the Finance Act 2021 & authored by Dr. Raj K. Agarwal & Dr. Rakesh Gupta. The noteworthy features of this book are as follows:
Income Tax
Critical Income Tax issues relating to joint development arrangement of real estate
In the case of land owner
In the case of real estate developer
Income Tax issues relating to determination of year of transfer of capital asset and value of sale consideration in the case of joint development of real estate, particularly when joint development agreement is drafted in complex manner.
Analysis of provisions of:
Deeming provisions of Sections 43CA, 50C, 56(2)(x)(b) & 23(5)
Section-80-IBA granting deduction too developers for construction of affordable housing
Section 2(47) | Definition of “Transfer” of capital asset/Section 45(2)
Conversion of capital asset into stock-in-trade/Section 50D
Fair Market Value deemed to be Full Value of consideration.
[Analysis of provision of newly introduced 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.
Accounting Aspects
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 principle of Revenue Recognition to Real Estate Developer at different point of 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 Developer
History of Accounting Standards Applicable to Real Estate Developer
Analysis of Guidance Note on Accounting for Real Estate Transactions (Revised 2012)
Revenue Recognition for Real Estate Developer under IFRS
Impact of Income Computation and Disclosure Standards
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
About the author
Dr. Raj K. Agarwal has been meritorious throughout his academic career. He has done M.Com, LL.B. and Ph.D. and is Fellow member of Institute of Chartered Accountants of India and Institute of Company Secretaries of India and Associate Member of Institute of Cost & Works Accountants of India. Having practised as Chartered Accountant for more than 25 years as senior partner in M/s. Rakesh Raj & Associates, presently he is practicing as an advocate at Delhi High Court. He has wide experience of handling Income Tax search cases and has poured his practical experience in the form of this well researched book. He has been associated with the academic activities of the Institute of Chartered Accountants of India representing various committees of the Institute and with the Institute of Company Secretaries of India representing its Northern India Regional Council as Chairman in the year 2003. He has been contributing articles and addressing various seminars on topics relating to income-tax, accounting and auditing.
Rakesh Gupta
Dr. Rakesh Gupta is a law graduate and Fellow Member of Institute of Chartered Accountants of India and Institute of Company Secretaries of India and Associate Member of Institute of Cost & Works Accountants of India. He has done Ph.D. He was awarded gold medal in LL.B. examination by the University. He along with Dr. Raj started practicing as chartered accountant in the year 1984 in the firm M/s. Rakesh Raj & Associates. He was selected as Member of Income Tax Appellate Tribunal in the year 2000 and thereafter he resigned from the service and started practicing as an advocate as senior partner of M/s. RRA TaxIndia at Delhi representing income-tax cases before various High Courts and before Supreme Court of India. He is a prolific speaker and has been contributing to the profession by addressing various seminars on regular basis on legal and practical topics relating to Income Tax. He has been contributing articles in various professional magazines, writing column in newspapers and making appearances at T.V. channels.