Capital gain
This query is : Resolved
08 May 2013
A person sold residential flat and bought another immediately. Possession of flat was not received by him but he paid full amount and considering the spirit of section 54 he claimed exemption from capital gain. Now three years are over and he is yet to get possession of the flat. He wants to sale the flat. Can he sale before getting possession or he should wait for 3 year after getting possession
08 May 2013
It is basically effective when agreement to to sale is made and possession is transferred.
The above two conditions have to be satisfied for sale of capital asset.
The above two conditions have to be satisfied for sale of capital asset.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- Sales return eway bill
- Rent lease agreement
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- E way bill for tractors
- SGST balance is there in credit ledger how to adjust for cgst
- Loan by Partnership Firm
- Tax liability on income of freelancer
- REGARDING SECTION 44AE
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
