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Capital gain & earnest money payment

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(Querist)
22 January 2016 We had paid earnest money on 01.04.2012 for purchase of Flat. The sale deed was made on 01.12.2012.

The aforesaid property was sold on 30.04.2015.

whether cost of Acquisition will be calculated from the date of payment of earnest money ?

Can i take benefit of exemption under Section 54 ?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
23 January 2016 Please read the article of CA Sandeep Kanoi which contains case laws and references related to your query -
https://taxguru.in/income-tax/taxability-capital-gain-sale-construction-property-nature-gain-date-indexation-availability-benefit-section-54-54ec.html
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