15/02/2019
Chargeability [Sec. 45]
Any profit or gain arising from the sale or transfer of a capital assets chargeable to tax under the head ‘Capital gains”. It is deemed to be the income of the previous year in which the transfer of the capital asset takes place. Capital gains arising from the transfer of immovable property are chargeable to tax in the previous year, in which the effective transfer of title is conveyed and registered [in the case of transfer of property under section 53A of the Transfer of Property Act when agreement to sell is made and possession is transferred].
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