Quiz for the week (20 Jul 2026) :
Melodyian (P) Ltd, Chennai entered in to a JDA with Ashraf who owned a land and residential building situated therein for the last 30 years. He is eligible for 2 flats and cash of Rs.50 lakhs payable as his share in the project and which was payable on its completion. The project was completed in April,2026. The apartments were handed over to him in May, 2026 and the monetary consideration was paid in July, 2026. The FMV of the land and building owned by Ashraf as on 1st April,2001 was Rs. 25 lakhs. The stamp duty value of each flat allotted to him as per JDA was Rs.100 lakhs. Discuss TDS obligation of the payer i.e. Melodiyan (P) Ltd and capital gain taxable in the hands of Ashraf.
Share your thoughts on or before 27.07.2026.