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Capital Gains Tax
I sold residential builder floor by POA in Gurgaon in 2006 when they were not registrable. I got POA and other papers registered in Delhi as it was registrable in Gurgaon. The buyer got it registered in Gurgaon in year 2013 when registration was opened. Case came up for scrutiny ant ITD is applying circle rates of 2013. Is it correct or what should be done.
Replies (4)
You can defend the case based on possession date; otherwise registration date will be considered.
Thanks for your quick reply. Is there any ruling on your suggested action.
https://www.pwc.in/assets/pdfs/news-alert-tax/2018/pwc_news_alert_1_march_2018_date_of_agreement_to_sale_not_date_of_sale_deed.pdf
Thanks Dhirajlal ji for valuable guidance. Will contact you for more info if required.
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