House property

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

12 September 2011 As i had sold a flat dt.15.10.2010
& the purchaser sign the agreement by franking the document for Rs.1000/-only & mentioned that he will registered the agreement within 6 months which he has not done yet.

Against the above i have purchase a new flat dt.01-11-2010.
1)If the purchaser does not register the above flat do i have to payable the CAPITAL GAIN?
2) Still the possession of the above flat is with me because he is not register the agreement.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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12 September 2011 As the possession has not been given as well as the registration of the flat has yet not been made, transfer does not take place and as such no capital gain will arise to you.

The amount received by you may be treated as advance received against flat.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2011 Thanks in advance

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