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Sale of property 1RK
I had shared my 1RK on 30th March, 2022 to XYZ. Registration of which was done on 31st March, 2022. The money was received on 4th April, 2022. Will this sale be taxed in F. Y. 21-22 or it will be taxed in F. Y. 22-23?
Replies (2)
The capital gain will arise in the year of receipt of consideration after the sale deed is registered, i.e., in FY 2022-23.
Mere execution of the sale deed will not accrue capital gain to the transferor until the consideration is also received against the sale.
Thank you so much CA Puja for your help regarding the issue.
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