Capital gain-short or long term
This query is : Resolved
04 October 2012
Capital Gains on Sale/Transfer of vacant land by an Individual (family) booked by an Agreement of Sale in 2004, but pending to be registered in his name. Capital Gains thereof will be Long Term or Short Term, if sold during the year 2011-12
04 October 2012
if not registered in name, then who is the seller?
if the deed of agreement of sale is registered, and all payments has been made by that time, then this may be treated as date of aquisition. then it can be treated as long term
if the deed of agreement of sale is registered, and all payments has been made by that time, then this may be treated as date of aquisition. then it can be treated as long term
05 October 2012
Registration is not important.what is important is date of acquisition. If the land was acquired in 2004 and possession was taken at that time then long term capital gain will arise.
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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
