Collaboration Agreement Income Tax

In the real estate sector, the model of the development agreement [`DA`] or the joint development agreement [`JDA`] has proven to be a popular agreement in which property owners and developers conclude a joint development agreement for the development of the property. Generally speaking, under this type of agreement, the landowner can: who abandons his country in favor of the developer by GeneralVollmacht {GPA} to develop / build the same at the expense and expertise of the developer, obtain a financial or non-monetary compensation in the form of either a lump sum consideration, or a certain percentage of the future sales proceeds of the project to be developed, or even a certain percentage of the built area in the future project or a mixture of the terms and conditions agreed between them. Sometimes the developer has given the landowner a lump sum as a refundable deposit upon entry into JDA. At the end of the development/construction, the landowner will be allocated built land in the form of housing/shops, etc., which he can keep, or even rent for his own use, or rent or sell directly to interested buyers. Years: If you concluded a cooperation agreement before 01.04.2017, the author considers that you were subject to capital gains tax at the time of the conclusion of the contract with the contracting authority. Please let us know when you have concluded a joint development contract with the client. The date of delivery should be the date of the agreement for the sale of accommodation If it is considered a continuous service and, therefore, the conclusion of the event, in accordance with the agreement, will determine the date of delivery Notwithstanding the provisions of section 194-IA, any person responsible for the payment of an amount in consideration to a resident: did not deduct, in kind, under the agreement referred to in Section 45, Subsection 5A, at the time of credit of that amount, into the beneficiary`s account or at the time of payment in cash or by issuing a cheque or change, or otherwise, as the earlier date, an amount equal to 10% of the amount as income tax. According to section 45(1) of the Income Tax Act 1961, all profits or profits generated by the transfer of capital produced in the previous year are realized, unless otherwise provided in §54, 54B, etc. be subject to income tax under the heading ”Capital gains” and are considered income from the previous year in which the transfer took place. This is a great relief for landowners, who are now only responsible for capital gains if the owner has completed the construction and obtains the certificate of completion. . . .

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