Transfer- Capital Gain

333 views 1 replies

partner

443 Points Joined October 2008

Mr. A purchased a car in 1999 and gave the possession to Mr. B for some part consideration by entering into agreement with him. But as per the Vehicles Registeration Act the ownership lies in the hands of Mr. A. Can the same be treated as transfer???

Replies (1)

Learner

4016 Points Joined December 2009

Dear Dhurvesh,

Generally, Transfer of any asset is NOT dependent upon "discharge of consideration" or "registration of title"

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