Section 45(5A)

when I have transferred my share in flats before obtaining completion certificate then when will capital gain liability arise:
at the time of date of transfer of such share or at the time of transfer of property to developer?
Replies (2)
Quick Summary
This discussion clarifies the timing of capital gains tax liability when shares in flats are transferred before a completion certificate is issued. The consensus is that the tax liability arises at the point of the share transfer, not when the property is eventually transferred to the developer.

I think it arises at the time of transfer of such shares........

Yes, it shall be taxable at the time of transfer of shares.

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