Transfer or not
This query is : Resolved
23 May 2012
A sale deed was executed for 40lacs, subsequently the sale deed was cancelled.
The value of the property on the date of cancellation is 50lacs. whether this transaction regarded as transfer? and is it attracts sec.50c?
The value of the property on the date of cancellation is 50lacs. whether this transaction regarded as transfer? and is it attracts sec.50c?
24 May 2012
Since the property has not been actually transferred, there is NO transfer and accordingly capital gain is not attracted.
24 May 2012
But the person who intends to buy relinquished his right to buy the property.
since transfer includes relinquishment of right for the buyer it is transfer.
if there is any advance paid by the buyer the amount will be the cost of aquisition for the right
since transfer includes relinquishment of right for the buyer it is transfer.
if there is any advance paid by the buyer the amount will be the cost of aquisition for the right
24 May 2012
But the person who intends to buy relinquished his right to buy the property.
since transfer includes relinquishment of right for the buyer it is transfer.
if there is any advance paid by the buyer the amount will be the cost of acquisition.
since transfer includes relinquishment of right for the buyer it is transfer.
if there is any advance paid by the buyer the amount will be the cost of acquisition.
24 May 2012
But the person who intends to buy relinquished his right to buy the property.
since transfer includes relinquishment of right for the buyer it is transfer.
if there is any advance paid by the buyer the amount will be the cost of acquisition.
since transfer includes relinquishment of right for the buyer it is transfer.
if there is any advance paid by the buyer the amount will be the cost of acquisition.
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