Capital gain
This query is : Resolved
24 December 2011
If a person has purchased a property during the year 2005-06 but does not register and get it registered in 2011-12 and pay registration charges as per todays stamp duty valuation. What is the tax implications in the hands of purchaser n seller on such registration?
hope this wil be entertained at earliest
hope this wil be entertained at earliest
24 December 2011
Purchase of property will be consider only in year 2011-12 when property actually transfer.
Amount paid by you in year 2005-06 will be consider as advance for propery. so if propery is transfer in less than 3 year from 2011-12, will STCG
Amount paid by you in year 2005-06 will be consider as advance for propery. so if propery is transfer in less than 3 year from 2011-12, will STCG
24 December 2011
Sad but Mr. Arif is right. Sale only took place in 2011-12
However, Seller will get benifit of indexation till 2011-12, and it will be surely LTCG for seller.
As a purchaser,you can't do anything but sell after 3 yrs or ready to pay STCG.
However, Seller will get benifit of indexation till 2011-12, and it will be surely LTCG for seller.
As a purchaser,you can't do anything but sell after 3 yrs or ready to pay STCG.
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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
