Bought a property in 2012 for 18 lakhs,
Now, selling it for 32 lakhs on Agreement for Sale, where buyer will be paying the amount over a period of 5 years and final formalities of registration etc. will be done after 5 years (2028).
Question: Which year is the capital gains tax applicable?
1. Over all the 5 years, depending on the amount received each year?
2. In 2028, when the final formalities are done?
When the possession of the property be given?
Dhirajlal Sir, Full transfer and registration to be done in 2028, but keys to be handed right away.
| Originally posted by : Barkha | ||
 |
Dhirajlal Sir, Full transfer and registration to be done in 2028, but keys to be handed right away. |  |
My counter query replies the exact answer.
| Originally posted by : Barkha | ||
|
Dhirajlal Sir, Full transfer and registration to be done in 2028, but keys to be handed right away. | |
My counter query replies the exact answer.
Thank you everyone! I also thought so, just needed to confirm it.
in 2028.. When actual sale deed happens. till that time, its advance or instalment
CAclubindia
