Capital gain
This query is : Resolved
23 March 2014
when we say that sale is completed according to income tax to calculate year of charging in capital gain or in other cases???
Nikhil Kaushik
(Expert)
23 March 2014
Dear Praveen,
The concept under capital gains is not of sale but of transfer of asset - the most relevant component being the transfer of possession. even if you don't do any sale deed, for income-tax purposes the transfer is completed the moment the possession is handed over.
The concept under capital gains is not of sale but of transfer of asset - the most relevant component being the transfer of possession. even if you don't do any sale deed, for income-tax purposes the transfer is completed the moment the possession is handed over.
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