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
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Bank Accounts in Balance Sheet for ITR 3
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
