CONSTRUCTION LINKED PURCHASE OF PROPERTY ON HIRE PURCHASE

Hello Shrawani,

1. For determining period of holding , point of acquisition is required.

2. A Hire purchase transaction is not regarded as transfer. So ,I  presume that you have acquired the right  of Capital Asset after  paying  agreed number of installments. After acquiring the right of property  you can sell it.

3.Now the paradox,from what point shall we start counting the period of holding? Is it from the date of  hire purchase agreement or initial installment or date of acquiring the right.

Well the crux is the date of registration of conveyance deed.

In case document is not registered  but  the conditions of Sec.53A of Transfer of property  Act are satisfied  ,date of agreement.

With Good Wishes,

Sanjoy