36 months for ltcg ?

you have still not declared the date of registration of sales instrument which is obviously after 26 may 2011, which is vital document for the purpose, however date of possession 

26/05/2011 or date of registration instrument, which ever is earlier can be taken as DOA for the purpose. 

Originally posted by : U S Sharma
	you have still not declared the date of registration of sales instrument which is obviously after 26 may 2011, which is vital document for the purpose, however date of possession  26/05/2011 or date of registration instrument, which ever is earlier can be taken as DOA for the purpose.

Sir,

Thank you for the prompt response. Te Sale agreement got registered on 19th September 2009 and the Stamp duties were paid on 16th November 2009.

So will the agreement date be considered as date of Acceptance?

Please let me know if I have misunderstood your query.

Regards,

Mudit

Sir,

Thank you for the prompt response. The Sale agreement got registered on 19th September 2009 and the Stamp duties were paid on 16th November 2009.

So will the agreement date be considered as date of Acceptance or will it be date of possession?

Please let me know if I have misunderstood your query.

Regards,

Mudit

 

please check once again, if regn is done in 2009 then value in regn is not 62 lacs, coz at the time regn value has to be cleared.( on pending payment basis regn is not done normally)

Sir,

The registration deed has the value of 62 lacs mentioned. We have paid stamp duty also based on this 62 lacs value that was declared in agreement. The stamp duty receipt mentions that the market value of property wass only around 33 Lacs.

When we bought this flat on 6th floor, builder had already constructed 14 floors and had received a CC for 16 floors. This is some additional info which you may need to assess for providing further guidance.

Regards,

Mudit 

what you have paid for stamp value does not matter, but how much payment is mentioned in instrument of registration does maters. coz if the value is 33 lacs as per deed, why did you paid above 33 lacs?  stamp value of 62 lacs is right as per the valuation act, but for capital gain u need the actual cost paid for such property, and as per the practice, registration goes completed only after full payment,  so if the registration was done in 2009, then how the payments after 2009 were recorded?

Sir,

In the instrument Rs. 62 lacs is mentioned. Stages of payment was also mentioned. The builder did not mind getting the instrument registered prior to we making complete payment.

The complete cost for the property was paid only once possession was received. We received payment receipts for all stage payments and a possession letter from the builder at this stage.

Now, since the final payment happened in 2011 but the property was registered in 2009, what would be the maturity date for LTCG, 2014 or 2012.

Regards,

Mudit

date of possession letter is to be considered to avoid any litigation. and 36 months thereafter should be taken for LTCG purpose.

Thank you for the guidance.