Capital gains tax from development agreements is due when possession transfers, not in later years.

Capital gains tax from development agreements is due when possession transfers, not in later years. https://www.taxtmi.com/highlights?id=37304 Capital gains consequent to the development agreement - year of assessment - A transfer can be said to have taken place in the year when the possession was handed over by the assessee. Thus, capital gains tax, if any, is attracted in the year of agreement and not in the later years. - AT en-us Tue, 26 Dec 2017 08:40:50 +0530 Tue, 26 Dec 2017 08:40:50 +0530 TaxTMI RSS Generator Capital gains tax from development agreements is due when possession transfers, not in later years. https://www.taxtmi.com/highlights?id=37304 Capital gains consequent to the development agreement - year of assessment - A transfer can be said to have taken place in the year when the possession was handed over by the assessee. Thus, capital gains tax, if any, is attracted in the year of agreement and not in the later years. - AT Highlights Income Tax Tue, 26 Dec 2017 08:40:50 +0530 https://www.taxtmi.com/highlights?id=37304