ZI Professional Books

Maharashtra RERA Law & Practice and Taxation of Real Estate Developers & Joint Development Arrangements with Accounting Aspects- Professional Book

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Maharashtra RERA Law & Practice and Taxation of Real Estate Developers & Joint Development Arrangements with Accounting Aspects in Paper back mode.

  •  Taxmann
  • September 21
  • Paper back
  • English
  • 2.41 kg


Key Highlights

  • Taxmann's Combo is for the following books:

    • Maharashtra RERA Law & Practice by WIRC of ICAI
    • Taxation of Real Estate Developers & Joint Development Arrangements with Accounting Aspects by Dr. Raj K. Agarwal & Dr. Rakesh Gupta

    The key features of these books are as follows:

    Maharashtra RERA Law & Practice

    WIRC's Maharashtra RERA Law & Practice covers the Real Estate Regulating Authority Act (RERA) along with Rules, Regulations, Notifications, Circulars & relevant Case Laws for complying with the provisions of RERA. The book aims to organise the learnings of RERA implementation (since its inception) & correlating the legal provisions (such as Circulars, Orders, etc.) to give a complete picture of the law

    This book incorporates the perspectives of the following stakeholders:

    • Representatives of Self-Regulating Organisations
      • Brihanmumbai Developers Association
      • NAREDCO
      • Builders Association of India
    • Representatives of Association of Allottees & Professional Bodies
      • PEATA
      • Bar Association of MahaRERA & MahaREAT
      • Members of WIRC of ICAI
      • Mumbai Grahak Panchayat
      • Confederation of Residents Welfare Association
      • Maharashtra Cooperative Housing Federation Ltd.
      • Maharashtra Societies Welfare Association
      • Mumbai District Cooperative Housing Federation
      • Women Legal Forum for CHS
      • Engineers Associations

    This book will be helpful to the following:

    • Chartered Accountants
    • Advocates
    • Promoters & Investors
    • Real Estate Agents
    • Allottees (including Association of Allottees), Flat Purchasers
    • Policy Makers, RERA Authorities & Officials from the RERA Appellate Tribunal
    • Engineers
    • Contractors & Architects
    • Project Management Consultants
    • Developers & Development Managers

    The Present Publication is the 1st Edition, authored by the study group of industry experts & representatives from all stakeholders, edited by CA Ramesh S. Prabhu & co-edited by CA Kaushik Sampat, reviewed under the guidance of Hon'ble Shri S.S. Sandhu, Shri. Gautam Chatterjee, Shri. Sumant Kolhe, Shri. B.D. Kapadnis & Shri. D.R. Hadadare, with the following noteworthy features:

    • [Coverage of each aspect of Real Estate Transactions] with the following:
      • Necessary legal provisions
      • Steps & prescribed procedures for compliance (Standard Operating Procedures)
      • The consequential risk of violation and inviting penal actions
      • FAQs and the Judicial Rulings have been included to make the manual relevant and practice-oriented
      • Covering representation aspects of appearing before the Real Estate Regulatory Authority, Adjudicating Officer, Real Estate Appellate Tribunal
    • [Practical Manual in Simple Language] with the discussion of the provisions along with Rules, Orders, Regulations, and applicable Circulars for each particular chapter
    • [Practical Ready Referencer] The various formats, drafts and specimen are included in the manual, where the practitioner may accordingly decide to change the draft considering the facts and the relief claimed
    • [360° Coverage] This book covers the legal and practical aspects of Maharashtra RERA along with other legal provisions affecting the real estate transaction such as:
      • Income-tax Act
      • Goods & Services Act
      • Insolvency & Bankruptcy Code
      • Consumer Protection Act
      • Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act
      • Maharashtra Apartment Ownership Act
      • Transfer of Property Act, Stamp Duty & Registration
      • Prevention of Money Laundering Act
      • Foreign Exchange Management Act
      • Monopolistic and Restrictive Trade Practices Act
      • Development Control and Promotion Regulation

    Taxation of Real Estate Developers & Joint Development Arrangements with Accounting Aspects

    A Complete Guide to all matters pertaining to Taxation of Real Estate Developers & Joint Development Arrangements from an income tax & accounting perspective.

    The Present Publication is the 4th Edition, amended by the Finance Act 2021 & authored by Dr. Raj K. Agarwal & Dr. Rakesh Gupta. The noteworthy features of this book are as follows:

    • Income Tax
      • [Critical Income Tax Issues] relating to joint development arrangement of real estate
        • In the case of the land owner
        • In the case of a real estate developer
      • Income Tax issues relating to the determination of year of transfer of capital asset and value of sale consideration in the case of joint development of the real estate, particularly when joint development agreement is drafted in a complex manner
      • [Analysis] of the following Provisions:
        • Deeming provisions of Sections 43CA, 50C, 56(2)(x)(b) & 23(5)
        • Section-80-IBA granting deduction to developers for the construction of affordable housing
        • Section 2(47) | Definition of "Transfer" of capital asset/Section 45(2)
        • Conversion of capital asset into stock-in-trade/Section 50D
        • Fair Market Value deemed to be Full Value of consideration
      • [Analysis of provision of newly introduced sub-section (5A) to Section 45] of the Income Tax Act, 1961
      • [Attraction of Capital Gains Tax Liability] in case of transfer of Agricultural Land
      • [Analysis of Various Judgments of ITAT & High Courts] applicable to the Land Owner and Real Estate Developer in the case of Joint Development of Real Estate
    • Accounting Aspects
      • [In Depth Analysis of Guidance Note on Accounting for Real Estate Transactions] (Revised 2012) issued by the ICAI, applicable to Real Estate Developer
      • [Analysis of Applicability of Principle of Revenue Recognition] to Real Estate Developer at different points of time.
      • [Analysis of Applicability of Income Recognition] to Real Estate Developer under IFRS & ICDS Regime

Ramesh S. Prabhu

  1. Ramesh S. Prabhu is a highly qualified Mumbai-based Chartered Accountant with CISA (USA) practising for over the last 22 years and a well-known public figure. He is hailed as the Architect of Deemed Conveyance. His area of specialisation has been the Cooperative Housing sector. He has authored around 60 books on various issues on Housing society functioning like conveyance, transfer of flats, parking, repairing, collection of dues from members, income tax, service tax for housing societies etc. All of these books were released by the Ministry of Cooperation, Govt of Maharashtra, under the hand of the Cooperative Secretary at the Housing Society Expo, held in Mumbai during 2006.
  2. Ramesh Prabhu has compiled 101 Judgment Series Books for the Office Bearers and Members of Housing Societies on different topics. He was appointed as a Member of the Committee by the Govt. of Maharashtra in 2008 to frame the law pertaining to Deemed Conveyance. The Govt. has since passed the Bill on Deemed Conveyance which has been signed and endorsed by the President of India.

CA Kaushik Sampat

CA Kaushik Sampat has a comprehensive experience of more than three decades in all aspects of finance, accounts, commercial operations, budgeting, administration, MIS reporting, statutory compliance with astute planning & organisational skills in real estate and infrastructure companies. He has expertise in engineering construction industry with detailed knowledge of working capital management, cash flow & project management, along with handling accounting & cost control simultaneously of multiple projects of various nature and sizes.

Broadly familiar with the framework of laws governing the real estate industry, including an understanding of regulatory approvals sequence & processes, and proficient in MahaRERA.

S.S. Sandhu

Hon’ble Shri S.S. Sandhu is an administrative member of MahaREAT

Gautam Chatterjee

Shri Gautam Chatterjee is a retired IAS officer of the Maharashtra cadre and is Chairperson of the Maharashtra Real Estate Regulatory Authority (Maha RERA). A Gold Medallist in M.Sc. Mathematics from Patna University also holds a PG diploma in Urban Planning and Housing from The Netherlands. Mr. Chatterjee has held several important assignments in the Government of Maharashtra and Government of Bharat, including Joint DG of Foreign Trade in the Ministry of Commerce, CEO of Maharashtra Housing and Area Development Authority, CEO of Slum Rehabilitation Authority, and Principal Secretary of Maharashtra Housing Department.

Sumant Kolhe

Shri. Sumant Kolhe is a former Judicial Member of MahaRERA

B.D. Kapadnis

Shri. B.D. Kapadnis is a former Member of MahaRERA

D.R. Hadadare

Shri D.R. Hadadare is the Technical Head of MahaRERA

Dr. Raj K. Agarwal

Dr. Raj K. Agarwal has been meritorious throughout his academic career. He has done M.Com, LL.B. and Ph.D. He is a Fellow member of the Institute of Chartered Accountants of India and Institute of Company Secretaries of India and an Associate Member of the Institute of Cost & Works Accountants of India. Having practised as Chartered Accountant for more than 25 years as senior partner in M/s. Rakesh Raj & Associates, presently, he is practising as an advocate at Delhi High Court. He has broad experience in handling Income Tax search cases and has poured his practical experience in the form of this well-researched book. He has been associated with the academic activities of the Institute of Chartered Accountants of India, representing various committees of the Institute and with the Institute of Company Secretaries of India representing its Northern India Regional Council as Chairman in the year 2003. He has been contributing articles and addressing various seminars on topics relating to income-tax, accounting and auditing.

Dr. Rakesh Gupta

Dr. Rakesh Gupta is a law graduate and Fellow Member of the Institute of Chartered Accountants of India and Institute of Company Secretaries of India and an Associate Member of the Institute of Cost & Works Accountants of India. He has done Ph.D. He was awarded the gold medal in LL.B. examination by the University. He and Dr. Raj started practising as a chartered accountant in the year 1984 in the firm M/s. Rakesh Raj & Associates. He was selected as a Member of the Income Tax Appellate Tribunal in the year 2000. Afterwards, he resigned from the service and started practising as an advocate as a senior partner of M/s. RRA TaxIndia at Delhi representing income-tax cases before various High Courts and before the Supreme Court of India. He is a prolific speaker and has been contributing to the profession by addressing various seminars regularly on legal and practical topics relating to Income Tax. He has contributed articles in various professional magazines, writing columns in newspapers and making appearances at T.V. channels.

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