banner_ad

Date of acquisition of under construction property sec54

Tax queries 258 views 1 replies

Hello,

I purchased flat A in year 1995 and sold in Oct 2011 

I bought ready to move flat B from the LTCG in year Sept 2013. (I had put the money in CGAS during Oct 2011-Sept2013)

Now i will be selling the flat B in Oct 2016 (3 years over)

My Query:

If i buy a ready to move flat C from the LTCG of flat B in  Nov 2016 then the 3 year lock in period will start from Nov 2016.

But if i buy under construction flat say in Nov 2016 and also do the registration and also spend all the money in the gains then what wll be my start date for the 3 year lock in period

- Will it start from Nov 2016 - the registration date i.e will be able to sell it in Nov 2019   OR

- Will it start from the date of possession say April 2018 ?

In short does the 3 year lock in period begin from date of registration or date of possession ?

 

 

Replies (1)
3yrs period will start from the day the when the property is registered in your name.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details