Is ltcg applicable on registered agreement to sale of agri.land in munci.limits

“transfer” includes and shall be deemed to have always included disposing of or parting with an asset or any interest therein, or creating any interest in any asset in any manner whatsoever, directly or indirectly, absolutely or conditionally, voluntarily or involuntarily, by way of an agreement ....."

By way of Registered Agreement, the lady owner has parted away rights in the said land to purchaser, and hence capital gains liability arises, over the full transfer value.

इसको  तो वो कहेंगे , खाया पिया कूच नहिं , ग्लास फोड डाला, तो  दो  Rs. १० रुपया

You are right.

That's the reason some people insert cancellation clause with time barred, or certain specific condition on purchaser to comply, to escape the conditions laid as per transfer of property act. But AO mostly reject them.

Seniors mostly advise to put TDS payment liability over purchaser!!

 Does TDS has anything  to Do with LTCG of the property  ?

I am not ware of it ,

as TDS comes into forces as per the payments received , not on what is simply mentioend in the conveyance deed

 My query was that , as the property is a agri land  / not having any potentail value for constrcution as being shown in green zone of the DP plan of municipality  , secondly as only part of the amount is recived  as part payment or earnest money from buyer , as possession was not transferred by her to the party - being specifically mentioned in the deed , hence is she liable to show the same as LTCG in the same year on AMOUNT WHICH IS NOT RECEIVED  or to show that amount ( with payment as IT as per the slab on  income generated ) in ITR (as part  of agreed amount  received ) , as more likely within ayear or two , she will receive balnce payments, and exceute final sale deed cum  deed for handing over of  possession , so that she can pay LTCG , in the later year , when final sale deed is to be executed ,  as per indexed cost of that year , othrwise AO will ask again for it , after verifying registered deds of that year

 please let me undertand , as per the same

1.Based on the Registered agreement of sale, generally transfer of property as per section 2(47) is considered, but there are many cases wherein it is taken as just contract, and transfer to be based on certain specific conditions like NA, or development permission from TP etc. So, first and foremost from the wordings of the agreement if by any means it is established that the seller had rights in and over the property (including possession) along with cancellation of the contract if certain conditions by purchaser not fullfilled within certain time, etc. Insuch case you can take advantage of the clause and postpond POT on future date.

2. By sale of land LTCG is applicable, but this responsibility is enthrusted upon purchaser by way of TDS u/s. 194LA or payment to be made on behalf of seller etc.., but that is not applicable in this case .