Hi,
I would like to Know what is the Tax implication if I receive amount from sale of one property in two Financial Year. i.e receive 50% of Sale value in march 15 & balance in April 15.
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Sale of property in 2 financial year
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Dear Sir
There capital gain will be attract in the year in which such transfer takes place.
As per section 45 (Chargibility) the capital gain will charged on amount received or receivable on transfer of any assets as per section 47 of IT Act 1961.
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