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DATE OF ACQUISITION FOR PURCHASE OF PROPERTY

Tax queries 405 views 1 replies

The assessee has purchased a residential property and got this allotment letter in the year 2014, and has paid payments of more than 75% of the total consideration till 2018. Till 2021 the assessee has not got the possession of the same property due to delay by the builder. Now the assessee has entered into an purchase agreement with the builder in the year 2021 paying the remaining 25% money. Later the assessee has sold the same property in the year 2021 itself.

Whether the Assessee can claim to date of Acquisition as 2014 for Long Term Capital Gain??

Replies (1)
If you had made any sale agreement during 2014, and payments were made through account payee cheque or dd, ecs, NEFT rtgs etc, then you can take 2014 as year of purchase


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