Capital Gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2010 If you get the possession of the property for furniture work will it be treated as actual possession for the purposes of income tax act ? Further if such a property is sold in the aforesaid state whether it will be treated as transfer for right or transfer of house property ?

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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19 December 2010 After issuing of possession certificate, property is assumed as actual possession. If property is transfered without this it will be treated as transfer of right, else transfer of property.

Querist : Anonymous

Querist : Anonymous (Querist)

19 December 2010 Is possession for furniture work considered as possession ?

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