The query is with regards to sale of flat.
I booked a flat in December 2009 and received allotment letter also in December 2009. Subsequently I paid the stamp duty and registration fees on 31/03/2010. Since this was a under construction flat, till date I have been paying instalment amounts to the builder. Possession of the property will be received by end of April 2013. If I sell my flat in current position, it would amount to Long Term Capital Gain, as I would be selling my right to acquire a property. However if I sell the property after the possession of the flat, what would be the date of acquistion -
(a) Date on which I received allotment letter,
(b) Date of registration; or
(c) Date of possession?
CAclubindia
