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capital gain on sale of property

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30 Points Posted on 02 February 2019
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?
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On 02 February 2019 at 13:48 Report
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SEO Sai Gr. Hosp.
211715 Points Posted on 02 February 2019

Any agreement made?

Whether total sum received?

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On 02 February 2019 at 14:47
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30 Points Posted on 02 February 2019
No agreement made also. Yes the sum is received over a period of three years.
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On 02 February 2019 at 15:01
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SEO Sai Gr. Hosp.
211715 Points Posted on 02 February 2019

Consider it as advance, because without any transfer deed, capital gains not be attracted. TDS can be carried forwarded till the actual transfer.

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On 02 February 2019 at 15:03
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30 Points Posted on 02 February 2019
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?!
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On 02 February 2019 at 15:05
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SEO Sai Gr. Hosp.
211715 Points Posted on 02 February 2019

Yes.

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On 02 February 2019 at 15:07
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30 Points Posted on 02 February 2019
Thank you so much sir.
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On 02 February 2019 at 15:08
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9 Points Posted on 02 February 2019
dear sir...government my land acquired 2018 April and tds deducted 10 percentage. how i can calculate tax. the property purchase 2008
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On 02 February 2019 at 20:30
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SEO Sai Gr. Hosp.
211715 Points Posted on 02 February 2019

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)

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On 02 February 2019 at 20:55
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9 Points Posted on 04 February 2019
Thanks you sir
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On 04 February 2019 at 12:12


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