(1) Building in last stage of Construction (i.e. Fininshing - Final coat of External Color), Got possession of Flat from Builder on 16th March 2010 Gudi padva for doing Puja & to carry out Interiors (Still Rs. 2,50,000/- to be paid to Builder). The Possession Letter specify's that Possession of Flat is being handed over to the purchaser to carry out Interiors as per his request. Can we claim Loan EMI's paid in F.Y 2009-2010 in the ITR's to be filled of F.Y 2009-2010?
(2) An Assessee booked Flat on 2nd September 2009, executed Agreement on Dt. 25-12-2009, Regd. the same on Dt. 19-01-2010. Possession expected in June 2010. Now after getting the possession of New Flat, he will sell out his old Flat, there might be some Capital Gains on Sale of Old Flat. But he can very well claim Exemption that he purchased “Flat one year ago”. What date should be considered for calculating the ONE YEAR time frame? Will he have to get the Sale Deed of his old flat Executed or Registered before the said reckoning date?
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