Whether agreement of sale is a sale for capital gain purpose

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Dear Sir, My query is that when notarised agreement of sale of immovable property is executed in Gujarat and it contains a clause that whole sales consideration has been paid to the seller, then is the date of agreement of sale is considered as date of transfer of property for capital gain tax purpose or the date of sale deed is considered?

Whether it makes any difference if this agreement of sale does not contain the clause that whole of the sale consideration has been paid to the seller?

Please reply. It is urgent.

Thanks in advance.

Replies (1)

As per definition given in trasfer

Agreement of sale is not transfer, capital gain arising on transfer of immovable property is subjected to capital gain

in the given case, as the property is not transferred, it is just an agreement ot sale. 

Capital gain arises only on transfer of property.

Therefore you are subjected to capital gain untill the property is transfered.

 

It is meaningless whether the consideration is paid in full or part.


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