A deed of sale is usually a document that transfers the rights of a party with a property of another property. It is designed in the first place as the continuation of the sales agreement. All the conditions mentioned in the sales agreement are met and met in the sales agreement. The question of the sale is determined at the time of the conclusion of a sale agreement, when there are sometimes significant deficiencies in the agreement of a transaction (i.e. a sale agreement) and the actual execution of the transaction (i.e. in terms of sale), and the value at the time of execution is the sales figure that is recognized in Section 50C for the calculation of capital gain, relevant to the calculation of stamp duty for the registration of sales. Therefore, the comparison between the value by state of sale and the value according to the valuation of stamp duty no longer has a rational basis, as these two values represent the values at two different times. It should be noted that the agreement does not result in a transfer of ownership simply because the full consideration has not been received. There may be different other conditions that can be imposed on buyers and sellers to make the sale complete. If the seller agrees to treat all or part of the sale consideration as a loan to the buyer and not fulfill other conditions, the date of the agreement and registration will be followed by a delivery date and other consequences. What the sales contract creates is the buyer`s right to acquire the property in question in 1996, 1996. Similarly, the seller obtains the right to obtain the buyer`s consideration in accordance with his part of the terms and conditions.
For example, if you enter into an agreement to sell a property in June 2017, but the actual transfer by registration will not take place until December 2017, the stamp tax authority will, in such a case, have to assess the property as in June 2017 and not in December 2017. WHAT IS SECTION 50C? Section 50C of the Income Tax Act focuses specifically on the gross value that should be taken into account when calculating capital gains when transferring property or construction. It comes into effect when there is a difference between the sale value reported by the seller and the value of the property assessed by the stamp administration. Therefore, if the value indicated in the transfer deed is less than the valuation assessed or assessed by the shelling authorities, the latter valuation is considered a calculation of eligible capital gains. Admittedly, the Bombay Supreme Court ruled on 29 October 2018 that the income tax tribunal`s conclusion was correct and that the sale/sale of the property in question was not completed until 2011-12. The court also noted that the court is correct in concluding that on the facts, the agreement was executed on February 14, 2011, was an agreement on the sale of real estate. The law in force at the time required the registration of such an agreement. In any event, simply because it is registered, it does not automatically take on the character of a deed of transport or sale. In the future, a sale agreement is to be promised that the property will be transferred to the rightful owner, while the value of the sale is the actual transfer of the buyer`s property. Similarly, there are provisions in the act that require an appraiser to invest in another residential property within a specified time frame. For example, under Sections 54 and 54F, an appraiser may apply for a long-term capital gains exemption if he or she buys a home within one year before and two years after the sale date of such a long-term asset.
He can also build a house or book a house within three years, to benefit from the above exemption.