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Paying capital gains on the amount mentioned in agreement of sale
08-Oct-2023 (In Property Law)
iam selling a commercial vacant plot ,the buyer is making an agreement of sale for the property, the amount mentioned in the agreement will be given by cheques and i intend to pay the capital gains tax on this amount. registration will be done later. once i have paid my liabilities to the tax dept at this stage , am i responsible for anything else.
Hi,
Since you are willing to pay capital gains tax there is nothing to worry.
However you need to finalise on the following with your lawyer before signing agreement of sale as issues such as
1) year of assessment(since registration is to be done later).
2) indexation computation.
3) possession under sec 53 of transfer of property act (now or at the time of registration).
Hope this helps
Since you are willing to pay capital gains tax there is nothing to worry.
However you need to finalise on the following with your lawyer before signing agreement of sale as issues such as
1) year of assessment(since registration is to be done later).
2) indexation computation.
3) possession under sec 53 of transfer of property act (now or at the time of registration).
Hope this helps
Helpful?
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Adv. Rajagopalan
Hyderabad | 500+ Answers
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