Long term gain
This query is : Resolved
23 April 2019
Assessee sold residential flat vide agreement dated 30/03/2019 which was registered on 1st April 2019. 80% of payment received before 31st March and balance 20% was received say on 20th April 2019. The possession of the flat handed over on realisation of full payment say on 21st April 2019.
When the capital gain arises and in which financial year? Please site any judgement if available.
When the capital gain arises and in which financial year? Please site any judgement if available.
CA R SEETHARAMAN
(Expert)
24 April 2019
Here transfer of ownership happened in April 2019 so capital gains arises only in financial year 2019-20.
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