Capital gains

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siddhi (Querist)
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07 July 2014 I have some querries regarding capital gains provisions ......please someone guide me on that....
1)what is considered as transfer of capital asset....registration of documents or receipt of sales consideration....what if sales consideration received first and agreement is not registered then from which date 6 months to be counted? from date of receipt of consideration or from the date of registration of agreement?...
AND from where i can get FMV of 1981...any procedure is required to follow for the same?
please help me its urgent?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 July 2014 1. transfer is when the name of owner is changed legaly in gvt records.

2. it counted from date of transfer only.

3.from govt reg land valuers.

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siddhi

siddhi (Querist)
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07 July 2014 ok... and what if the amt of consideration deposited in capital gains a/c in the bank before actual transfer take place as the amt is received first....coz one of my client has done that?....is exemption allowed in that case?...

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 July 2014 yes even in this case its allowed but in case if any scrutiny comes then u have to prove that amount rec is for the capital gain and must be used for the specific purpose for which capital gain is exempted.

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