Vidit Seth (Practicing CA) 28 November 2020
Sale of flat by handing over the FLAT BUYER AGREEMENT to another party , before registry or possession of flat , in under construction position , will it be chargeable to Capital Gains Tax.
If not will.there be any tax treatment of surplus receipts.
CA ABHAY GUPTA (Practice) 28 November 2020
Ofcourse it is a capital assets for you unless you are engaged in business of real estate, thus capital gain will be there on such transaction.
Vidit Seth (Practicing CA) 28 November 2020
Thanks Abhay...I thought so as the Asset was not created yet and there was no possession.
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