urgrnt - capital gain
This query is : Resolved
09 July 2009
capital gain applicability
property transfer, possession not given.
In agreement two typ of payments
20% at the begining for part performance & 80% in end & last installment incl noc etc. payment
i want to know when capital gain will be applicable :
1 whether at 20% stage - begining
2 whether at 80% in end
3 whether when possesion is given
please give applicable case laws & procedure regarding transfer of property Act,1882.
thanking you.
property transfer, possession not given.
In agreement two typ of payments
20% at the begining for part performance & 80% in end & last installment incl noc etc. payment
i want to know when capital gain will be applicable :
1 whether at 20% stage - begining
2 whether at 80% in end
3 whether when possesion is given
please give applicable case laws & procedure regarding transfer of property Act,1882.
thanking you.
09 July 2009
Capital gain is ariese when capital assets are transfer.In case if possesion is not receive or late receive but property get register than in such case capital gain arises
Ratan Sharma
(Expert)
09 July 2009
Agree. As per sec. 53A of the transfer of property act no sale is considered untill & unless it is registered with concerned authority.
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