Date of transfer for capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 If a person enter in to an agreement to sell of immovable property through proper registration in sub registrar office and take a 40% advance of sales.
After 2 months ,take balance 60% on execution of the sale deed so which will be date of transfer for calculation of capital gain for seller date of agreement or date of sale execution.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 July 2013 Consider the date out of the two, on which possession has been given/taken.
.

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 Sir ,If the Sale deed is excecuted and one clause is incorporated that the possession of property will be given after 2 month i.e. on so on so date and balance 20% of sales will be given by buyer to seller on this date.
So the date of handing over possession in writing will be considered transfer date (date of sale) for calculating capital gain.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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28 July 2013 Yes the date of possession handing over is the date of transfer for the purpose of capital gains computation.

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