Property without considaration
This query is : Resolved
15 March 2015
Dear members
One of my client have a case when he sell property 25 years ago for consideartion of 250000 but registree not made. today he want to transfer this property name of buyer .
My query is he liable to tax if he would not receive any consideratio.
early reply appreciateb me
Thanks you
30 April 2015
whether your client has any evidence that
same was sold before 25 years.
For Example change in name of Municipality
and other government and revenue
records, some kind of registration in name of buyer under Shop and establishment Act, Electricity Meter, ration card, election card etc are additional proof which may be useful to establish the fact.
In this case while making document you
have to mention that same was sold
before 25 years and as at that time full consideration was received there is no
question of once again receipt of consideration . However you will have to pay registration fees and utilise stamp at
current juntri Value.
whether your client has any evidence that
same was sold before 25 years.
For Example change in name of Municipality
and other government and revenue
records, some kind of registration in name of buyer under Shop and establishment Act, Electricity Meter, ration card, election card etc are additional proof which may be useful to establish the fact.
In this case while making document you
have to mention that same was sold
before 25 years and as at that time full consideration was received there is no
question of once again receipt of consideration . However you will have to pay registration fees and utilise stamp at
current juntri Value.
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
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
