Capital gain tax on transfer of asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 August 2012
One of my client has entered into an Agreement to sell with Possession and received part amount before 01.04.2012 and the consideration entered as per applicable guideline rate. The balance amount received after 01.04.2012 and sale deed registration also completed as per applicable guideline rate after 01.04.2012. Whether he has to pay Capital Gain tax in the Assessment year 2012-13 itself as the Transfer of Asset with possession has been completed. Or he has to pay Capital Gain tax in the Assessment year 2013-14 as registration is completed after 01.04.2012. I am asking this question because, the guideline rate has been increase after 01.04.2012. Kindly give your valuable suggestions.
Amol S Joglekar
(Expert)
14 August 2012
You can show it in assessment year 2012-13. Take the help of transfer of property act section 53A
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