A Treatise on Taxation of Real Estate Cases is the most lucid and “to the point” analysis of provisions relating to real estate cases. It provides substantial guidance as to whom to be taxed, what to be taxed, when to be taxed and how to be taxed in real estate sector. This book is an essential reference for the officers of Income Tax Department, auditors and appellate authorities, real estate builders/developers, landowners, tax professionals, statutory institutional bodies like, ICAI/ICSI/ICMAI and also assesses.

Key Features:
• Lucid and simple language to describe concepts prevailing in real estate sector
• Relevant law of Income Tax Act, 1961 discussed threadbare in three parts
» First, for 2009-10 to 2011-12 (the years for which Assessing Officers of Income Tax department can reopen assessment)
» Second, for FY2012-13 to 2014-15 (since when new Guidance Note of ICAI was introduced but before ICDS was introduced)
» Third, since FY2015-16 (since when Income Computation & Disclosure Standard has been introduced)
• Relevant accounting standards of India, guidance notes of the Institute of Chartered Accountants of India (ICAI), comparable international accounting standards, other relevant Rules and Acts and procedures have been discussed
• Case laws with actual annual reports and CBDT‘s circulars are discussed
• Applicability and non-applicability of AS—7
• Actual brochures, project reports, applications/reports submitted before different organizations as specimen reproduced as illustrations
• How P&L and other relevant accounts as well as Balance sheet can be prepared with such ingredients is stated
• Provides specimen notices of required actions by Assessing Officers

About the Author

Syamal Datta is a B. Sc. (Hons), MBA. He is presently working as a Joint Commissioner of Income Tax. He joined Income Tax department in the year 1987 and over the period he has gained experience in diverse fields including assessment, recovery and Income Tax Appellate Tribunal. He was a trainer for 7 years in the training institute in Kolkata for officers of the Income Tax department. He was also a visiting faculty to the regional training institutes of Income tax department in other cities and National Academy of Direct Taxes, Nagpur. He has also trained officials of many other departments like Audit & Accounts, Customs & Central Excise, State Governments as well as the officers of Bangladesh and Bhutan's revenue departments. He is recognized as an ace trainer in income tax matters. In 2007, he was nominated as a member of the Business Process Re-engineering Sub-Committee by Central Board of Direct Taxes (CBDT). He was a member of Direct Taxes Code (DTC) Taskforce for drafting new Income Tax Rules in 2011. He also worked as Deputy Secretary (Investigation IV) in CBDT where his main functions were policy making, implementation and monitoring at the highest level of Income Tax department. He was also a member of Indian tax delegation to London in 2014. During this time, he authored one User Guide-cum-Troubleshooting Manual on online STR handling through Finnet and co-authored one book on Effective handling of cases before Settlement Commission and received appreciation letter from the Chairman, CBDT for his outstanding service. Apart from the book on real estate assessment he has also written a book on collection & recovery.