Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 March 2015
IF I have sold a property on 22-03-2015 for Rs 80 Lacs. But the sale consideration will be receivable afetr 2 years. then when I have to pay capital gain tax ???
In FY 14-15 or after receiving the amount in FY 16-17 ??
In FY 14-15 or after receiving the amount in FY 16-17 ??
23 March 2015
u will have to pay in the year of transfer of onwership on record.
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 March 2015
is this argument sustainable that the seller dont have received the coaideration to pay the tax ???
23 March 2015
no....sec 48 is charging section for capital gain..once there is transfer as per sec2(47) definition then whether u recieve or not consideration tax becomes due unless u opt for exemption on paying the capital gain under sec 54
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