Transfer of capital asset sec.2(47).
This query is : Resolved
25 July 2013
what is the meaning of "possession of immovable property under part performance of a contract"????
what does part performance means???
pls explain with example.
what does part performance means???
pls explain with example.
25 July 2013
Part Performance in simple words-
--------------------------------
You have purchased a capital asset from X.
Amount agreed upon 5.00 lac. You paid him 51000/-. This is part performance as you have started to work upon the contract.
.
X relies on you. He gives you possession on the basis of your PP+ good intentions.
--------------------------------
You have purchased a capital asset from X.
Amount agreed upon 5.00 lac. You paid him 51000/-. This is part performance as you have started to work upon the contract.
.
X relies on you. He gives you possession on the basis of your PP+ good intentions.
Message likes :
1 times
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
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- ITR-Capital Gain
- Taxation on Old jewellery sold
- Reporting in TDS return
- ITR 44AD SECTION
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Residential status of non resident
- GST ISD Query on various AMCs
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
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
