Long term capital gain tax query

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  1. Farid

    Farid New Member

    X entered into a 'Agreement to sell- Without Possession" for a house sale with Y. Agreement to sell -Without possession was registered by paying half the duty to the registrar office in 2014. However, full payment was made by the buyer to the seller.

    Query as follows: Will the sale be considered from Income Tax point of view? As legally, its just a agreement to sell , without possession and the ownership is not transferred yet in government records.

    Logically, Long term tax become applicable only on transfer of property. In this case property is neither transferred , nor changed to buyer's name in all records. So , can the seller continue to enjoy indexation values every year till the year the property actually gets transferred and registered?

    Please do clarify sir
     
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