I had sold a house in 2012 and full consideration was received in 2012 ( full in cash) but registeration has not done yet. I had compute and paid my tax liability on such transfer in 2012 ITR, but now i want to make the registeration. Will it effect my tax liability as there is huge difference between the circle rate in 2012 and 2018.
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Tax on sale of property
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if possession of the house was given in the year 2012 and this fact is mentioned in the sale deed, no tax liability would arise in the year of sale.
correction: no tax liability would arise in the year of registration of sale deed.
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