Payment received for sale of property

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(Querist)
16 March 2016 R/sir, One of my client is selling a plot, which may attract long term capital gain. Selling consideration will be about 18,50,000 and registry is due in may 2016. Buyer is giving 15,00,000 as advance in March 2016. Please let me know whether my client have to show the money received in adv in his itr for ass year 2016-17 or to show and pay ltcg tax in ass year 2017-18 as registry will be done in acc year 2016-17 Please suggest Regards
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 March 2016 If possession is handed over upon receipt of advance, then LTCG has to be necessarily offered in asst yr 2016-17.
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Anuj Verma

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Anuj Verma (Querist)
16 March 2016 No possession is not given against advance, possession will be given after full payment and registry.
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Anuj Verma

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Anuj Verma (Querist)
16 March 2016 Possession will be given after registry

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