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
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
