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Index rate for sale of property

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CA Final Student
38 Points Joined January 2014
One house is sold in PY 2021-22 so agreement was done in PY 2021-22 but full consideration was paid in PY 2022-23. Hence the transaction will be considered in PY 2022-23 but for calculating capital gain which year's index rate is considered? Stamp duty & tds payment was done PY 2021-22 however sale is considered in PY 2022-23.
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On 15 June 2022 at 13:42 Report
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Chartered Accountant
5010 Points Joined March 2020

Sale should be considered in FY 2021-22 for capital gains. 

CII for 2021-22 is 317

CII for FY 2022-23 is 331

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On 15 June 2022 at 13:46
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CA Final Student
38 Points Joined January 2014
But full consideration was paid in next year of agreement & possession was also given in next year hence we decided to consider sale transaction in next year i. e. FY 2022-23. TDS deducted will also be carried forward to FY 2022-23.
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On 15 June 2022 at 14:18
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Chartered Accountant
86505 Points Joined April 2011
You have to consider indexation of FY 21-22 even if consideration received later . As per Govt records transaction completed in FY 21-22 and tax on same is to be paid in that year.
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On 15 June 2022 at 20:46
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12244 Points Joined May 2017
Payment of consideration is immaterial subject to conditions. if the registration was made during the fy 21-22, the same needs to be taken for INDEXATION purpose and not the year during which the consideration received
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On 16 June 2022 at 01:22

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