In a cooperation agreement, the owner of the property enters into an agreement with the owner/promoter to demolish and rebuild the owners` land and sell part of the new land to the owner (for example. B one or more floors) and to keep the other parts with him after the renovation. Assessee owned land – he entered into a cooperation agreement with “S” for the development of land such as 2-5-1987. With respect to the agreement, the auditor agreed to divest 40 per cent of the land instead of 60 per cent of the construction on land – the building was finally built in 2000 – and then the expert gave irrevocable authority in favour of “S” to sell the land allocated to him on 10.9.2003. On substantive issues, real estate was converted into shares when an agreement was signed between the notator and the “S” and such a conversion would amount to a “transfer” under Section 2, paragraph 47, point iv). CA. Vinay V. Kawdia provided an interesting overview of the tax legislation of the Joint Development Agreements (JDA). He identified the many controversies that are not there. He presented a clear analysis of the legal provisions and provided practical examples to explain their impact. A large number of important judicial precedents have also been reported. This is a great relief for landowners, who are now responsible for capital gains only when the owner has completed construction and receives the certificate of completion.
Previously, landowners were required to impose capital gains tax as soon as they entered into a cooperation agreement. In August 2012, My Borther (developer) entered into a cooperation agreement with the landowner for the interpretation of his land. We have to build basements, soils, the first and the second. On makinf grinding, my brother (developer) will be first floor and second floor and the owner of the property will receive Basement plus the ground floor. In October 2007, the IRS published a Coordinated Issue Paper (CIP) for the Biotech and Pharmaceutical Industries, Nonrefundable Upfront Fees, Technology Access Fees, Milestone Payments, Royalties and Deferred Income Under a Collaboration Agreement (LMSB-04-1007-073).