The Bharatiya Janata Party government in West Bengal on Wednesday made it mandatory for persons to obtain a certificate before slaughtering animals such as buffaloes, cows and bulls. The administration barred public slaughter of the animals and said officials carrying out inspections to enforce the
The United Arab Emirates said on Thursday (May 14, 2026) it "denies reports" that Israeli Prime Minister Benjamin Netanyahu secretly visited the country, after Mr. Netanyahu's office said he had met with the UAE President during the war with Iran. Mr. Netanyahu's office said on Wednesday (May 13
Lucknow, May 14 (PTI) Still in the hunt for a playoff berth despite an erratic campaign, Chennai Super Kings will look to continue their recent resilient run when they take on the already-eliminated Lucknow Super Giants in an IPL match here on Friday.Lucknow
For the past few years, millets have enjoyed a remarkable glow-up. Once considered humble staples in many Indian homes, grains like bajra, jowar and ragi are now being marketed as modern superfoods—pitched as the answer to everything from weight loss and diabetes to better digestion and heart
Iran could be only weeks away from producing weapons-grade uranium, US Energy Secretary Chris Wright warned lawmakers, raising fresh concerns over Tehran’s nuclear programme amid ongoing tensions in the Middle East. Testifying before the Senate Armed Services Committee
Can joint development help avoid capital gains tax?
JDA and capital gains: What happens when family members co-own property
A landlord owns a property (comprising land and an independent house on that land) in Chennai as 100% owner now. He plans to retain 25% ownership and settle 75% of the said property to his wife and two children. Once the settlement happens, the said landlord, his wife and two children become joint owners of the said property with 25% ownership each.
After the settlement, the four joint owners plan to enter into a Joint Development Agreement (JDA) with a developer, under which each of the owners will get one home in return from the developer. (Note: Two of the owners already own one or two properties each, whereas for the other two owners, this will be their first property ownership.)
Under this JDA arrangement, each owner gets a home in kind from the developer which becomes their capital gains. However, the owner also has an option to reinvest those capital gains into another property to get exemption from capital gains tax.
In this case, the owners are reinvesting their capital gains in the same property by retaining one home each in the joint development. In such a case, would the taxable capital gains for each owner be zero, regardless of how much the cost of acquisition of the property was?
Nature of transfer
The nature of exemption would depend on the nature of the asset transferred, which in turn would depend on the agreement entered into.If the JDA provides for transfer of the residential house by the owners to the developer and, in consideration, the owners receive a residential house (with or without any monetary consideration) each, the exemption available would be under section 82 of the Income-tax Act, 2025 (erstwhile section 54 of the 1961 Act).
In such a case, the exemption would be available irrespective of the fact that some of the owners may already own one or two properties other than the new property. The condition that the owner should not own more than one residential property other than the new property is applicable only if exemption is claimed under section 86 (erstwhile section 54F of the 1961 Act). Section 86 applies only in case of transfer of an asset other than a residential house, and not to cases involving transfer of a residential house.
One important aspect is that to claim exemption under section 82, the new property must be constructed within three years from the date of transfer of the original property.
Capital gains computation
For determining the capital gains that need to be reinvested in the new property (which would be the stamp duty value of the new property), the sales consideration would be the aggregate of:The stamp duty value of the property received, and Any monetary consideration received, if any.Further, the cost of acquisition in the hands of the children would be the cost in the hands of the previous owner, i.e., the father who had gifted the house.
If the gains are reinvested in the newly constructed property, the gains would be exempt up to ₹10 crore.
Gift considerations
Another important aspect is that one must be able to justify that the gift of the share in the original property by the landlord to his children is not undertaken solely for tax saving, but for a genuine non-tax reason, such as building up their assets and wealth.Further, no part of the assets or income from assets received by the children should subsequently revert to the father, as this may cast doubt on the genuineness of the gift.
If the children are minors, then the capital gains, if any, would be clubbed in the hands of the parent whose income is greater.
Mahesh Nayak, chartered accountant, CNK & Associates.
Source: LiveMint
Related Posts: Landlord Refusing to Return Your Deposit Karnataka landlord says tenant demanded ₹3 Your landlord ignoring repair requests Mumbai Landlord Shows Porn Collection To Female Tenant Landlord’ movie review Karnataka Introduces Automatic Property Mutation To Speed Up Land Transactions Plumber in Mumbai makes Rs 18 lakh annually and even owns a Creta Who Owns Galgotias University Who Owns The Copyright Who owns TikTok in the US now
Moving on from his controversial past, England call back pacer and call him 'world class'During the India tour in 2024, the fast bowler ran his mouth on a podcast, and on the field of play performed terribly. Updated on: May 14, 2026 10:49 AM IST Written by Prateek Srivastava Share via Copy link
1 days ago
India on Wednesday banned exports of raw, white and refined sugar with immediate effect until September 30, as the government moved to contain domestic prices and protect supplies amid uncertainty linked to the war in West Asia, Reuters reported
1 days ago
Heavy security at AIADMK headquarters in Chennai following internal splitThe party is currently facing a significant internal rift, with one faction led by its general secretary Edappadi K Palaniswami and a dissident group. Updated on: May 14
1 days ago
Sugar stocks traded lower on Thursday after the Centre banned sugar exports with immediate effect till September 30, 2026, in a move aimed at ensuring adequate domestic availability and controlling prices. Following the announcement, shares of major sugar companies came under pressure and traded
1 days ago
Had there been morality, NEET paper would not have leaked: Rajasthan GovernorHad there been morality, NEET paper would not have leaked: Rajasthan Governor Published on: May 14, 2026 12:45 AM IST PTI Share via Copy link Kota, If there had been any morality, the NEET paper would not have leaked
1 days ago
The central government has banned sugar exports with immediate effect till September 30, 2026, or until further orders, in a move aimed at safeguarding domestic supplies and ensuring food security amid concerns over production and availability
1 days ago
As US President Donald Trump touches down in Beijing, Iran expresses hope that Xi Jinping will push for a solution to the Hormuz crisis. Iran’s Deputy Foreign Minister, Dr Kazem Gharibabadi, told CNN-News18 during a media interaction that since China too was suffering because of the Hormuz naval
1 days ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Was your cabin suitcase stopped at the boarding gate again? Here’s how to avoid getting gate checked at the airportKeep your cabin suitcase with you by packing smarter using a
1 days ago
As global health authorities continue to monitor the situation, the hantavirus outbreak linked to the expedition cruise ship MV Hondius has escalated, with nine confirmed cases reported so far and more expected in the coming weeks. Around 150 passengers and crew members have now begun returning
1 days ago
An Indian woman travelling through Southeast Asia has shared her frustrating experience of allegedly being stopped from boarding a flight to Cambodia despite carrying valid documents and proof of funds. In an Instagram video, the traveller claimed she was asked to show hundreds of dollars in cash
1 days ago
ChudTheBuilder update: What charges is streamer facing after shooting? Attempted murder, aggravated assault and moreChudTheBuilder, whose real name is Dalton Eatherly, has been charged in connection to a shooting outside a Tennessee courthouse. Published on: May 14
1 days ago
The 2026 FIFA World Cup in North America faces a significant risk from soaring temperatures. Scientists warn that many matches could be played in dangerous heat conditions, potentially impacting player welfare and performance. Some games may even require postponement
1 days ago
Kannada actor-producer Dileep Raj’s sudden death left everyone shocked and numb. Raj passed away in the wee hours of Wednesday due to a cardiac arrest. As the nation mourns the actor’s death, a new report has revealed some shocking details. If a report by Udayavani is to be believed
1 days ago
Haryana Board HBSE 10th Class Result 2026 Date, Time, Direct Link at bseh.org.in Live Updates: The Board of School Education Haryana (BSEH) is all set to announce the HBSE Class 10 Result 2026 today, May 14. It will be released at noon. Once out
1 days ago
A South Carolina court has overturned the 2023 murder convictions of Alex Murdaugh, a disgraced lawyer who was convicted of killing his wife and son. The state's supreme court on Wednesday ordered a new trial for Murdaugh over the June 2021 killings
1 days ago
On a new TV tech turf, Xiaomi S Mini LED TV 75 makes a strong case for dominanceFor a TV with flagship aspirations taking the battle to Samsung and others, Xiaomi’s hardware foundation is overlaid with attentive image processing Published on: May 14
1 days ago
Gurgaon man worked as Uber driver to pay rent and EMIs after being fired suddenlyThe Gurgaon man shared that the aftermath of being fired from the company where he had worked diligently and loyally was brutal. Published on: May 14, 2026 10:17 AM IST By Trisha Sengupta Share via Copy link "Loyalty
1 days ago
A woman who fought breast cancer comes back stronger and shares her story in a powerful reel. As one scrolls down @sriorcoimbatore page on Instagram, another reel pops up. It offers a simple advice on maintaining a healthy weight with a balanced diet rich in fruits, vegetables
1 days ago
Absence of minister affecting General Education Dept functioning: CPI(M) leader SivankuttyAbsence of minister affecting General Education Dept functioning: CPI(M) leader Sivankutty Published on: May 14, 2026 9:05 AM IST PTI Share via Copy link Thiruvananthapuram
1 days ago
In a thrilling encounter, Cristiano Ronaldo's Al-Nassr team clinched a 1-1 draw against rivals Al-Hilal thanks to a last-minute own goal. With the Saudi Pro League title hanging in the balance, Al-Nassr remains in the lead by a five-point margin
1 days ago
Oklahoma man to be executed for killing ex-girlfriend, her 7-month-old daughterRaymond Johnson, 52, was scheduled to receive a lethal injection at the Oklahoma State Penitentiary. Updated on: May 14, 2026 10:59 AM IST AP Share via Copy link An Oklahoma man convicted of killing his ex-girlfriend and
1 days ago
Senior Congress leader Thiruvanchoor Radhakrishnan lauded the party's High Command for its transparent selection process for Kerala's next Chief Minister. He stated Rahul Gandhi was directly involved. Radhakrishnan expressed happiness with the democratic procedure
1 days ago
LinkedIn Layoffs: The cuts are part of an internal reorganisation aimed at focusing resources on areas of stronger business growth, rather than a response to AI replacing roles. Microsoft-owned professional networking platform LinkedIn is preparing to reduce its workforce by around 5% as part of a
1 days ago
Nahan (HP), May 14 (PTI) A suspect has been taken into custody after a woman’s partially burnt body was found in a forest near a police battalion camp in Himachal Pradesh’s Sirmour district, police said. The body of the woman, who is stated to be in her late 30s
1 days ago
Marathi signboards within a month or 'Shiv Sena-style' action: Mumbai deputy mayor to shops, hotelsThe Mumbai deputy mayor warned of a ‘Shiv Sena-style’ action if establishments fail to install prominently visible Marathi signboards. Updated on: May 14
1 days ago
P. Krishnakumar, who guided Jammu and Kashmir to a historic maiden Ranji Trophy triumph this year as the side’s bowling coach, is also in line to be the third fast bowling coach. Former India pacers VRV Singh and Lakshmipathy Balaji will reportedly join the Board of Control for Cricket in
1 days ago
Gold, Silver Rate Today May 14: Check 18, 22, 24 carat Gold prices in Chennai, Mumbai, Delhi, Kolkata Gold, Silver Rate Today, May 14: Gold prices continue to witness fluctuation amid the ongoing US war against Iran, causing uncertainty across the world markets. Earlier on Wednesday
1 days ago
