valid transfer of share
This query is : Resolved
14 October 2008
if Mr. A transfers a house to Mr.B only by writting it on Stamp Paper and without registration, than can this transfer will be considered valid for income tax purpose ? Will Mr. B become the owner of the house ?
14 October 2008
If consideration is passed to A and possession is handed over to B the said matter will be treated as transfer u/s 2 (47) of the incometax act,1961.
15 October 2008
To continue what Mr.Warrier has said, the ownership change of immovable property will reach a finality only on registration.
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