WHICH DATE IS CONSIDER FOR NOME SALE OR PURCHASE
This query is : Resolved
NAVEEN BANSAL
(Querist)
19 January 2008
R/SIR,
TELL ME WHICH DATE IS CONSIDER FOR HOUSE SALE/ PURCHASE.
DATE OF REFISTERY,
OR DATE OF MAKING PAYAMENT
IF PAID IN SOME INSTALLMENT.
OR TAKING POSSESION OF HOUSE
TELL ME WHICH DATE IS CONSIDER FOR HOUSE SALE/ PURCHASE.
DATE OF REFISTERY,
OR DATE OF MAKING PAYAMENT
IF PAID IN SOME INSTALLMENT.
OR TAKING POSSESION OF HOUSE
Late CA Sampat Jain
(Expert)
19 January 2008
The relevant date for the purposes of section 54F is when the petitioner paid the full consideration amount on the flat becoming ready for occupation and obtained possession of the flat, and not the date of registration of the agreement of purchase - CIT v. Smt. Beena K. Jain [1994] 75 Taxman 145 (Bom.).
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