Capital gains
This query is : Open
27 April 2014
Sale of property without registration is a valid transfer u/s 2(47)??
27 April 2014
Yes, for the purpose of capital gains, transfer is treated as complete with delivery of possession and when agreement to sell/buy immovable property is entered into.
28 April 2014
Thank you sir,
this is the case
1.X sold a land to Y 7 years back through an unregistered agreement of sale.
2.Y gave said the land to the builder and made a development agreement cum GPA along with X mentioning the facts in the recital of the development agreement cum GPA.
3.Y made an UN-registered gift deed in favor of his son(Z) 1 year back and intimated to the builder to deliver the allotted houses to Z.
4.Now Z wants to sell the houses adding the X and Y as the co-vendors in the recital and take the entire sale consideration in favor of Z.
QUERY:-
NOW WHO WILL BE ATTRACTED TO CAPITAL GAINS
this is the case
1.X sold a land to Y 7 years back through an unregistered agreement of sale.
2.Y gave said the land to the builder and made a development agreement cum GPA along with X mentioning the facts in the recital of the development agreement cum GPA.
3.Y made an UN-registered gift deed in favor of his son(Z) 1 year back and intimated to the builder to deliver the allotted houses to Z.
4.Now Z wants to sell the houses adding the X and Y as the co-vendors in the recital and take the entire sale consideration in favor of Z.
QUERY:-
NOW WHO WILL BE ATTRACTED TO CAPITAL GAINS
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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Gift of mutual fund units to daughter
- Not able to file ITR
- Reporting of STCG on Property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- New Garden in Place of Old Garden
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
