Calculation of the 3 year period for capital gains tax

 

I’m planning to sell my flat and reinvest the money in buying another flat. How should I proceed to save any short term capital gains tax if applicable?

Issue 1:

I had booked a flat in July 2009. In order to compute the period for calculation for the 3 year window for Capital gains tax, which date is important of the below:

1.       Date of Booking of Flat: July 2009

2.       Date of Allotment of Flat: Nov 2009

3.       Date of Builder Buyer Agreement: Mar 2010

4.       Date of Possession: Still waiting for it

 

Issue 2:

Does payments play a role is calculation of the 3 Year window period?

I had made around 20% payment when the Allotment letter was issued and had made a payment of around 35% when the builder buyer agreement was executed. By now I have paid around 90% of the money to the builder.

Replies (1)

As per my view is concerned...

The person becomes the owner of the property from the date on which letter of allotment is issued and the payment of instalments is just a follow up process. For Indexation - period starting from the year of allotment.

Other views are also accepted.

I have seen a contradictory case decided by a high court on this issue. i.e.Period should be recokened on the basis of Installments paid.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details