What is the date of transfer for ascertaining capital gains?

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Kapil Tiwari (Querist)
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28 September 2012 My aunt sold a vacant plot of land and wishes to invest Rs.50 lakhs in LTCG tax saving bonds of REC & NHAI. She received the token amount of Rs. 5 lakhs on 16th May 2012. An "Agreement for Sale" was entered into on 22nd May 2012, wherein it was mentioned that the balance amount of Rs.90 lakhs will be given to my aunt within 31st July,2012. The "Sale Deed" was finally entered into on 25th July 2012. This document was registered with the Sub-Registrar after payment of the necessary stamp duty. The balance amount of money was also received by my aunt around this date. I wish to know what is the actual date of transfer within 6 months of which investment has to be made in 54EC LTCG tax saving bonds to save tax.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 October 2012 Date of transfer is the date on which the possession is handed over.

In this case, the date of registrtion of sale deed (25th July, 2012) shall be taken as the date of transfer.

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