Date of Sale for LTCG

Share This Thread
  1. KirtanShah

    KirtanShah New Member


    I am in the midst of selling my property which i have been holding for more than 10 years.

    Please refer to the sequence of events below
    1) Date in Feb 17 :- Buyer pays Token Amount (1.5%)
    2) Date in March 17 :- We enter into an "Agreement to Sale" . Due to ill advice received buyer had already paid the Stamp Duty and we registered the document at the registrars office. Buyer also paid an additional amount to me. (10%)
    3) Date in April 18 :- The Buyers presented another 25% so that i can clear my pending loan.
    4) Date in May 18:- The final sale deed will be registered along with handing off the possession and receiving balance payment.

    Questions :-
    1) For the purpose of LTCG the date to be considered is the March Date (Agreement to Sale) or date in May (Sale Deed) when the actual possession will be given. I've received rent from the then existing tenants till 30th april.
    2) TDS :- Should the buyer be paying TDS in March 17 or he can pay in May 17.

Draft saved Draft deleted