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Taxability of capital gain tax

This query is : Resolved 
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(Querist)
18 July 2012 Short Term Capital Gain:

Facts of the case:
On sale of Flat, deed has been registered in F.Y. 11-12 i.e. to say 25-03-12 by receiving token money.

Further, whole sale consideration is recd in F.Y. 12-13 i.e. to say 10-07-12 and the possession has been given on 11-07-12

Query: Pls can any1 let me know that in which F.Y. my tax liability will arise
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CS ANAND RAVADA

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CS ANAND RAVADA (Expert)
18 July 2012 Mr.Darshit,
the point is very in taxation, that, the sale deed has been registered in the F.Y.11-12, it means the agreed consideration has been received on or before the registration date, so one has to pay the capital gain on the transction during that financial year
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Darshit

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Darshit (Querist)
18 July 2012 Mr. Anand
Consideration has been recd on 10-7-12 also possession has allotted been on 11-7-12, so if the amount is not recd in FY 11-12 how can one pay tax.
Further, possession factor has to be also considered for transfer of rights.
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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
19 July 2012 Capital gain is chargeable in the year in which the Transfer took place
Consideration Date & Possession Date is of no use in this Case
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