21 February 2024
I have entered into agreement for purchase of flat on24.02.2020 and amounts are paid through bank loan.Flat is not registered in my name. Occupancy / possession taken on 08.06.2022 . I have sold the flat on Sept 2023.The sale deed shows my name under "Consenting witness"and not as VENDOR. Buyer has deducted TDS in my name even though flat has not been registered in my name I have capital gains of Rs.20 L on this transaction I have entered into other agreement for purchase of flat on Oct 2023 and paid entire cost of flat. Can it be treated as long term capital gain and can I claim exemption under section 54 / 54F
23 February 2024
Thank you for the reply.Is there any notification or circular for the above case. I have not registered the flat; but received email from seller on 8 June 2022 to take possession. Can I still claim exemption?
23 February 2024
Yes, you can claim exemption. Have some written documentary evidence for sale and handing over of possession which includes sale value.
27 February 2024
@ca r seetharaman - sir,there is a small change in my query: The flat which I sold in September 2023 has sale deed which shows that land owners are vendors. It shows my name under" Consenting witness". Will it be capital gains or income from other sources.
CAclubindia
