Menu
Year in which capital gains to be considered
This is case of long term capital gains
1)Date of Acquisition:10/06/2011
2)Date of Sale:26/03/2016 (Date as per agreement)
3)Stamp duty paid on 26/03/2016 while date of registration is 05/04/2016
4)Date on which TDS has been paid by the purchaser:05/04/2016 reflected in the 26AS of AY 2017-18
4)Advance of 13,60,000 has been received before 31/03/2016
Kindly advise regarding when to consider these gains AY 2016-17 of AY 2017-18?
Replies (3)
The Capital Gain Will Be Taxable In The AY 2016-17 As Per Date Of Sale
As the part payment has been received before 31-3-2016 the relevant assessment year for the levy of capital gains tax will be 2016-17. date of registration is not relevant in this case .
One of my client recd 50%
Recent Threads
- Form 16 format
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
Related Threads
CAclubindia
