In the case of immoveable property, Transfer of property act considers a sale as complete only on registration of the sale deed.

2)Under Transfer of property act, transfer of immoveable property is not complete unless the sale deed is registered. There may be situations where the buyer has acquired the possession of the property and the seller has been paid the price for the sale even though the property has still not been registered in the name of the purchaser

3)

For the purposes of Capital Gains, ‘Part performance of a contract of sale’ falls within the definition of ‘Transfer’ as per 2(47) (v) of the Income Tax Act. The definition reads as below:

…

["transfer"32, in relation to a capital asset, includes

(v) any transaction involving the allowing of the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in section 53A36 of the Transfer of Property Act, 1882 (4 of 1882) ;”

4) new property should be purchased in not only in your name and wife name but your father name should also be reflected as co owner of property 

5) Section 45 of the Act states that the capital gain is chargeable to tax in the year in which transfer takes place. The term ‘transfer’ has been defined u/s 2(47) of the Act which includes any transaction allowing the possession of the property as per the section 53A of the Transfer of Property Act, 1882.
 In your case it would when agreement for sale is entered into

stamp duty valuation at time of entering into agreement for sale will be taken as sales consideration for computing the capital gains as the possession is obtained by the buyer during the agreement to sell and the sales consideration is paid through account payee cheques.

1. Yes 

2. No 

3.Earlier price on which the same is purchased and present agreement value

The agreement of sale is not sale of property.

Therefore only if the property has been sold by a registered sale deed, the LTCG can be reckoned thereon.

b)  Yes

c) The LTCG will be calculated as per the sale consideration value 

Dear client, the tax exemption can be claimed only after the property has been sold and you use that property for buying another property. However this exemption can be claimed only on the stamp to duty paid

- As per Section 54 & 54 F  of the Income Tax Act, you can re-invest the long term capital gains amount in residential house property and claim an exemption therein.

- Further , no tax shall be paid , if you use the entire gain to buy another house within 2 years from the selling of your old property .

a) No, he cannot claim any exemption , as for claiming a registered document is needed , and the sale agreement 
is not a valid deed for the transfer of the property. 
b) No
c) The consideration amount of the sale deed. 

Your father will not be able to claim capital gains tax exemption if you akd your wife purchase the new property using the sale proceeds of your father's property 

For purpose of computation of capital gains, the market value as per the stamp duty ready reckoner as prevailing on the date of agreement to sell or the agreed consideration value, which is higher will be considered. If a sale deed is made and registered subsequently but possession of the property is already handed over at the time of agreement to sell then the value prevailing on the date of agreement to sell will be considered 

In order to claim tax exemption the new property has to be purchased by your father alone jointly by your father, you and your wife 

1.      An agreement to sell is not a sale of property. Capital gain tax is applied or exempted on completed sale of property, not on agreement to sell. 2.      Sell of property and purchase of house property has to in the name of same person only than exemption can be claimed. 3.      Cgt is applicable on the actual value of consideration  at the property is sold, not on any stamp value.Solution: When there is general prohibition on registration of transfers of property. Permission to sell and direction to Sub-Registrar to register property can be obtained from High Court. There is such practice. It will be helpful if it is known as under which Act Registrar is prohibited.

1) It is not mandatory to registered agreement for sale 

2) however it is advisable to register agreement for sale to avoid legal complications in future particularly so if possession has been delivered to buyer 

3) un registered agreement for sale is admissible in evidence 

In order to enforce the sale agreement through court of law, it is mandatory to enter into the same by a registered document.

If in case the seller refuses to execute the sale deed for some reason, the buyer can get the same executed through court provided the sale agreement was executed by a registered document.

Also, since the sale agreement do not confer title to the buyer, it is deemed that the property has not been transferred by sale. Hence the advance amount paid towards part of sale consideration amount is refundable if the sale agreement is cancelled therefore the part sale consideration paid towards sale agreement will not attract capital gains tax.

Dear client, the tax exemption can be claimed only after the property has been sold and you use that property for buying another property. However this exemption can be claimed only on the stamp to duty paid

- As per Section 49 of the Registration Act, an is unregistered, document will not be admissible as evidence .

- However, an unregistered agreement can still be used as evidence for collateral purposes.

- Further , in case of refusal of registration of sale deed , only registered sale agreement will be taken in consideration . 

Registered document