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capital gain on sale of property
If a property is sold, however neither registered nor possession is taken, no power of attorney is made also. If however over three years sale consideration is received and tds is also deducted on the same. Then from when the capital gain will start?
Replies (9)
Any agreement made?
Whether total sum received?
No agreement made also. Yes the sum is received over a period of three years.
Consider it as advance, because without any transfer deed, capital gains not be attracted. TDS can be carried forwarded till the actual transfer.
So the capital gains will be applicable on the date of any agreement or possession, whichever is earlier? Irrespective of any or whole sale consideration received?!
Yes.
Thank you so much sir.
dear sir...government my land acquired 2018 April and tds deducted 10 percentage. how i can calculate tax. the property purchase 2008
Whether the land aquisition was under RFCTLAAR act? if so, its gains are tax exempt.
File return and claim TDS as refund (any excess after tax liability)
Thanks you sir
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