Covid19 Alert : Keep Social distance and utilize your time by joining CA CS CMA online classes at 30% disc Coupon: SAFE30 Call : 1800-3000-0505

Capital gain

This query is : Resolved 

hi, i am an ipcc student. i wanted to ask a personal i-tax query as i still don't have much tax knowledge. my father owns a house in one city from about 30 years. we want to shift to another city by buying a flat and selling the present house. to gain deduction under capital gains , the existing house has to be sold within 1 year of purchase of the flat.. my query is which date is considered as the date of purchase of the flat?? the date on which the down payment is paid and the agreement is signed or the date of registration..?? we want more time to sell the present house.. plz advise the best possible way to save tax...


Date of purchase is the date on which possession is handed over, normally the date of registration.


You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :





close
CA Learning