Ans: An important point to remember is that the new provisions of the cooperation agreement only apply if the landowner is an individual or a HUF. The activity of the developer is the adventure in the nature of the trade and for the landowner, it is a simple handing over of the land ownership to the developer. Article 45(2) shall not apply to the case of the assessor. The relevant section is Section 2(47)(v) in conjunction with Section 53A of the Transfer of Ownership Act, according to which the transfer takes place in the year in which the JDA was registered, conferring the right of ownership and development activities to be carried out by the developer. Under section 2 (47) of the Act, transfer includes the possibility of taking possession of immovable property or retaining it in the partial performance of a contract of the nature referred to in section 53A of the Transfer of Ownership Act. Notwithstanding the provisions of Section 194-Aa, any person who, in accordance with the agreement referred to in Section 45 Subsection (5A), is required to pay to a resident an amount in consideration which does not constitute a benefit in kind, at the time of crediting that amount to the beneficiary`s account or at the time of payment in cash, by issuing a cheque or change or otherwise; Based on what happened before, deduct an amount of 10% of this amount as income tax. At the time of the sale of the dwellings, the capital gain will be taxable again and, at that time, the consideration for the sale would be the value of the stamp duty on that date and the cost would be the value of the stamp duty considered today. You have to pay the capital gain twice, first against the sale of land and, second, against the sale of apartments. 3. In such a scenario, the heart of the transaction lies in the fact that „A“ gives up its total proportional share of 25% of the land, while „A“ would receive six dwellings built free of charge by the developer, in addition to the sum of paragraph 3 crore . . .