reg. capital gains tax
This query is : Resolved
CA PAVAN KUMAR
(Querist)
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...
PR Choudahry
(Expert)
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
- Gst credit note by supplier
- Movement of goods by packers and movers - type of sale - Reg.
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
