Date of transfer of plot, Service Tax

[Avaneesh Dvivedi]

One big plot was divided and sold to different partes in different years say 2002-03 ,2003-04 & 2004-05 Last part of the plot was sold on 2004-05.Wha is the date transfer o the plot.

Posts / Replies

[YASHAVANTH R.M.]

In my opinion when one plot divided & sold to different parties taxes are applicable at the time of transfer of property to individual buyers,since the sale/ transfer agreement is done at the time of transfer i.e.in respective years,when last part of the plot sold on 2004-05 tax applicable to the last buyer as applicable. The date of transfer of the plots are in respective years.

[Surender Gupta]

Respective portion of the plots sold shall be assessed in the year in which they are transferred, provided the transfer is complete with respect to that portion.