reg. capital gains tax
This query is : Resolved
11 June 2007
A house was purchased in 1980.Due to non-delivery of the same by the seller the assessee could'nt occupy it.Assessee bought it in the name of his wife, who is not an assessee.
A petition was filed which took many years to get it decided.Registration Charges were paid to the court in 1982.
Now, in the year 2006, dec. the verdict was in favour of the assessee asking him to get it registered.
Upon sale will it be a Short Term or a Long Term Capital Gain, if it is sold in Jan.2007
pavan kumar.
visakhapatnam.
A petition was filed which took many years to get it decided.Registration Charges were paid to the court in 1982.
Now, in the year 2006, dec. the verdict was in favour of the assessee asking him to get it registered.
Upon sale will it be a Short Term or a Long Term Capital Gain, if it is sold in Jan.2007
pavan kumar.
visakhapatnam.
11 June 2007
The verdict will not apply retrospectively no matter registration charges were paid in the year 1982 because ownership was not transferred and there was no part performance regarding possession according to the Transfer of Property Act,1882 and hence it will be not be LTCG...
13 June 2007
Short Term
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
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- 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
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
