I have register a flat in March 10,2011, in Mumbai. Now I want to sale it, I will be registering the sale of said property Post March 20, 2014. Need a clarity that whether I can take the sale amount say around 60-70% of total value before March 10, 2014, will it have any impact on my LTCGT benifit
16 December 2013
When the sale deed will be execueted then only the transfer will b complete. So you can take the advanve and prepare an agreement to sale wherein mention that the possession of property will be handed only on receiving the full amount and excuetion of sale deed.
16 December 2013
The amount is treated as advance and it converts into sales consideration when you give possession or register the sale deed. . So, it's having no impact on LTCG. .
CAclubindia
