Year of acquisition for capital gain
This query is : Resolved
CA Atihash Agarwal
(Querist)
24 June 2014
Mr X was alloted a plot in the year 2005 for Rs 1,00,000/-. Later on, from time to time, he paid Rs 12,00,000/- for the plot.
IN 2014, he made the final payment and the registry was done in his name.
In the next month, he sold the plot.
My query is, what will be the year of acquisition of the plot, whether it would be 2005 in which the plot was allotted or the year 2014 in which the resgistry was done.
Kindly advise.
IN 2014, he made the final payment and the registry was done in his name.
In the next month, he sold the plot.
My query is, what will be the year of acquisition of the plot, whether it would be 2005 in which the plot was allotted or the year 2014 in which the resgistry was done.
Kindly advise.
24 June 2014
it would be when actually its registered in his name i,e in 2014 itself.
Rupesh Jain
(Expert)
25 June 2014
when he get register the plot in his name.
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