08 August 2014
SIR ONE PLOT PURCHASED ON 01/10/2007 FOR RS. 70,000/- WHICH I SOLD ON 28/12/2012 FOR RS. 6,00,000/- BUT THE REGISTRY MADE OF THE SAME PLOT AFTER I RECIEVED THE FULL AMOUNT ON DATE 03/05/2014 AMOUNT RECD ON INSTALLMENTS ON 29/12/2012 3,50,000/- 23/05/2013 50,000/- 22/11/2013 1,50,000/- 14/03/2014 50,000/-
THEN I PURCHASED A FLAT THE REGISTRY MADE ON DATE 04/05/2013 14,50,000/- FULL AMOUNT PAID DURING THE PERIOD FROM 12/11/2012 TO 08/02/13 READY RECNOR RATE IS 2455/-
PLEASE GUIDE ME IS ANY CAPITAL GAIN ARISES FROM THIS?
08 August 2014
No Man, As per your query following legal fiction will come- you have made agreement to sale on that date. You have sold the property on the date when you have transfer the assets by registering the same.
CAclubindia
