Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 dear sir

i have query about capital gain arises on land
My question is that when capital gain arise at that time when agreement was done or at that time when consideration is received

if i sold a property at Rs 9 cr but i have received only Rs 2cr then on what amount i will pay income tax on such capital gain

Rupesh Jain

Rupesh Jain (Expert)
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01 August 2013 on tfr of ownership you are liable ti pay tax
if you have not tfr the owner ship . then not liable

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Sanket Shah

Sanket Shah (Expert)
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01 August 2013 If ownership is trfd then on entire sale consideration CG is chargeable. If ownership not trfd u r still out of scope of chargeability..

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Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 sir one question is their ownership is transfer but i could't get concideration amount then what i do

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 n i have no money for pay a such tax

Sanket Shah

Sanket Shah (Expert)
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01 August 2013 Ideally tax is payable when trf takes place...