Capital gain..please its important

This query is : Resolved

Arpit Agrawal (Querist)
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08 August 2014 PLOT PURCHASED 01/10/2007 70,000/-
SOLD ON 28/12/2012 6,00,000/-
REGISTRY DATE 03/05/2014
AMOUNT RECD 29/12/2012 3,50,000/-
23/05/2013 50,000/-
22/11/2013 1,50,000/-
14/03/2014 50,000/-

ANOTHER FLAT PURCHASED
REGISTRY DATE 04/05/2013 14,50,000/-
PAYMENT MADE 12/11/2012 TO 08/02/13
READY RECNOR RATE IS 2455/-

PLEASE GUIDE ME IS ANY CAPITAL GAIN ARISES FROM THIS?

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 Sold Plot on 28/12/2012
When is registry date- ?

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 Sold Plot on 28/12/2012
When is registry date- ?

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 Sold Plot on 28/12/2012
When is registry date- ?

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 Sold Plot on 28/12/2012
When is registry date- ?

Arpit Agrawal

Arpit Agrawal (Querist)
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08 August 2014 REGISTRY DATE IS ON 03/05/2014

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 plz clearly write the situation....

Arpit Agrawal

Arpit Agrawal (Querist)
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08 August 2014 SIR ONE PLOT PURCHASED ON 01/10/2007 FOR RS. 70,000/-
WHICH I SOLD ON 28/12/2012 FOR RS. 6,00,000/- BUT THE REGISTRY MADE OF THE SAME PLOT AFTER I RECIEVED THE FULL AMOUNT ON DATE 03/05/2014
AMOUNT RECD ON INSTALLMENTS ON
29/12/2012 3,50,000/-
23/05/2013 50,000/-
22/11/2013 1,50,000/-
14/03/2014 50,000/-

THEN I PURCHASED A FLAT
THE REGISTRY MADE ON DATE 04/05/2013 14,50,000/-
FULL AMOUNT PAID DURING THE PERIOD FROM 12/11/2012 TO 08/02/13
READY RECNOR RATE IS 2455/-

PLEASE GUIDE ME IS ANY CAPITAL GAIN ARISES FROM THIS?

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 how much money you have invested from 04/05/2013 onward.

Arpit Agrawal

Arpit Agrawal (Querist)
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08 August 2014 sir i made the whole payment of flat before 04/05/2013
THAT IS BEFORE REGISTRY OF FLAT I MADE THE WHOLE PAYMENT!!

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 In your case, no exemption is allowed u/s 54F as you have invested the amount more than one year before the transfer of plot.

Entire Long Term Capital Gain is taxed in AY 2015-16

Arpit Agrawal

Arpit Agrawal (Querist)
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08 August 2014 SIR BUT I SOLD THE PLOT ON 28/10/2012

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 However, there may be another view as you have got property registered on 04/05/2013.

But I will go by my earlier answer.

Arpit Agrawal

Arpit Agrawal (Querist)
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08 August 2014 WHICH DATE DO WE CONSIDER REGISTRY DATE OR THE DATE ON WHICH SALES COMSIDERATION IS MADE

CA UMESH DULAL

CA UMESH DULAL (Expert)
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08 August 2014 No Man, As per your query following legal fiction will come- you have made agreement to sale on that date. You have sold the property on the date when you have transfer the assets by registering the same.

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