07 May 2013
One of my clients booked a property in FY 2008-09. The booking date was 19-06-2008.
The buyer made no default in payment. The payment continued till dec.2012.
The buyer is yet to get the possession of the flat. He has transferred the said property in FY-2013-14.
Please tell me from which date should I calculate the period of holding? I also need a clarification on the following: "whether date of possession or date of registry be taken for calculating Capital Gains tax in case date of possession is before the date of booking?"
08 May 2013
Sir, what will be the case where the buyer has not yet taken the possession of the property. He has sold his right to acquire the property once it is complete?
Will such giving up of right to hold title before the registry be classified as an asset?
CAclubindia
