Capital gain on sale of land

This discussion clarifies how to handle capital gains tax when the sale of land occurred in one financial year (2013-14) but payment was received in a later year (2019-20). The advice given is that capital gains tax is typically due in the year of the actual transfer of ownership. Since payment was received in 2019-20, this is considered the year of transfer, meaning the capital gains tax should be declared and paid in the Assessment Year 2020-21 by filing an Income Tax Return (ITR) for that period.