Capital gain-short or long term
This query is : Resolved
Balarama.p
(Querist)
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
U S Sharma
(Expert)
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
Pankaj Gupta
(Expert)
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.
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