One of my client sold urban Land on 18th March 2019(Purchased on 26-02-2012 for Rs.848000/-) for Rs.3250000/- and registered the property in the name of the buyer on the same day. On 14th june 2019(Ay 20-21) he cancelled the Registration and returned the consideration received on 18-03-19. Can he pay LTCG for A/y 2019-20?
Taxability of long term capital gain on sale of land(registered) subsequently cancelled
M.V.S.S.SURYA BHAGAVAN (income tax practitioner) (67 Points)
28 June 2019
CAclubindia
