Dear friends
pl tell me the year of taxability of capital gains in the following case:
Assessee sells the land in theyear 2011-12 but receives the consideration next financial year
3 Replies
CA NEHA AGARWAL
(Practise)
(227 Points)
Replied 27 June 2012
If its a compulsory acquisition then in the year consideration received otherwise in the f.y.11-12 only.
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 27 June 2012
This will be taxable in the year 2011-12.
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