Tax Guru

Section 54 Exemption Allowed – Possession Date of Under-Construction Flat Relevant, Not Agreement Date – ITAT Mumbai

The Tribunal held that the relevant date for Section 54 is possession of the new residential house, not the agreement date. Since possession was taken within two years of sale, exemption was ...

Are you an NRI planning to sell property in India? Here’s how the date of transfer impacts taxation

In most cases, when an NRI sells property in India, the date of registration of the sale deed is treated as the date of transfer for capital gains tax purposes ...