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TMI BlogTransfer of Immovable Property.X X X X Extracts X X X X X X X X Extracts X X X X ..... Registered Agreement to sale has been executed in FY 2021-22 and possession of the immovable property has been given to the transferee. But consideration will be received in installments in next 5 ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ars and final conveyance will be executed after full payment has been received. In which year will the transfer be considered? In FY 2021-22 or in the year in which final conveyance will be executed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ? - Reply By ARVIND JAIN - The Reply = I believe it should be the year of Agreement + possession , irrespective of the receipt of consideration as the same should be shown as receivable. Its just ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... instead of Bank you are providing the instalment facility to the buyer. - Reply By Shilpi Jain - The Reply = If its a unit sold before completion certificate is received - then assuming it is a su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pply of service, the moment possession is trasferred, service is complete and within 30 days invoice to be issued and tax to be discharged. If not, no GST liability. - Transfer of Immovable Property ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . - Query Started By: - shwetal oswal Dated:- 21-3-2022 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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