Transfer- Capital Gain

Mr. A purchased a car in 1999 and gave the possession to Mr. B for some part consideration by entering into agreement with him. But as per the Vehicles Registeration Act the ownership lies in the hands of Mr. A. Can the same be treated as transfer???

Replies (1)

Dear Dhurvesh,

Generally, Transfer of any asset is NOT dependent upon "discharge of consideration" or "registration of title"

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