Dear friends
pl tell me the year of taxability of capital gains in the following case:
Assessee sells the land in theyear 2011-12 but receives the consideration next financial year
CA Ramnarayanan (Chartered Accountant) (37 Points)
27 June 2012Dear friends
pl tell me the year of taxability of capital gains in the following case:
Assessee sells the land in theyear 2011-12 but receives the consideration next financial year
CA NEHA AGARWAL
(Practise)
(227 Points)
Replied 27 June 2012
If its a compulsory acquisition then in the year consideration received otherwise in the f.y.11-12 only.
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 27 June 2012
This will be taxable in the year 2011-12.
CAclubindia
