Capital gain

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Ganpat Khemka (Querist)
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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

CMA Arif Farooqui

CMA Arif Farooqui (Expert)
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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

CA. RAGHAV GARG

CA. RAGHAV GARG (Expert)
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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.

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