Date of acquisition for calculating capital gain
This query is : Resolved
Sumiti Jain
(Querist)
08 December 2011
If we purchase a house by making part payments in different years then what is the date of acquisition?
Whether it will be the First Payment or Registration date or last date of payment?
Whether it will be the First Payment or Registration date or last date of payment?
08 December 2011
Date of aquisition=
1.date of possesstion of house taken
or
2. date of registration.
whichever is earlier
1.date of possesstion of house taken
or
2. date of registration.
whichever is earlier
CA. Lohith Jagadeesh
(Expert)
08 December 2011
Hi,
If there is an Agreement to Sell as per the provisions of Section 53A of the Transfer of Property Act and if the Possession is handed over then the date of Possession will be considered else, date of Registration of the Property will have to be considered.
Thanks
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
If there is an Agreement to Sell as per the provisions of Section 53A of the Transfer of Property Act and if the Possession is handed over then the date of Possession will be considered else, date of Registration of the Property will have to be considered.
Thanks
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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