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Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Capital gain computation - year of taxation - transfer u/s 2(47) ...


Capital Gains Taxable in Year of Property Transfer per Income Tax Act Section 2(47.

July 1, 2019

Case Laws     Income Tax     HC

Capital gain computation - year of taxation - transfer u/s 2(47) - once assessee has received consideration, handed over possession of the property, executed registered Power of Attorney in favour of the holder empowering him to absolutely deal with the property and the arrangement is covered by an agreement for sale, it will be transfer - capital gain is taxable in this year itself

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