Lila (Job) (512 Points)
16 December 2020Son sold property to Mother for which payment was made by mother through bank transfer. Somehow, sale deed was not registered. Now only evidence for this sale is transfer of money by mother to son. Now, just because the sale deed is not registered can IT officer reject this transaction and not consider this as Sale.
Is there any time limit for registration of sale deed.
ayusmita
(Tax consultant)
(5885 Points)
Replied 16 December 2020
Lila
(Job)
(512 Points)
Replied 19 December 2020
No registration of transfer of property was done. Hence not showing in 26AS.
Query 1: If they do registration after 1.5 yrs, is it acceptable. Is there a time limit for property registration.
Query 2: In case they do not do the registration (transfer from son to mother), can the sale transaction be denied by AO.
CAclubindia
