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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 June 2012 I have received Rs.50 lac in feb 2010 against sale of property (purchase cost is Rs. 10 Lac) but still today the purchase party has not done the registration then what is tax liability?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
06 June 2012 The date of transfer for the purpose of capital gain is the date on which POSSESSION is given.

If the possession has been handed over to the buyer, then capital gain shall arise.
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