Dear All Greetings
we have 14000 sqft of plot , planning for development with a developers.
We have two options , firstly get built space as share and second take the Revenue from the flat.
We are planning to take revenue 50 % from each flats sold my develope in joint account
Kindly please let me know
1)whether it is Joint Development agreement or Joint Venture agreement.?
2) we are not putting money in the development, its completely developers cost, we are demanding 50 % revenue from the each flat sold?
3) What shall be tax liability in this case of amount taken?
look forward for your valuable feedback .
Regards
Amu
