House property

Tax planning 444 views 1 replies

Which date is to be considered for recognising house as self occupied property to claim u/s 24 (b) of Income tax Act ?

Whether it the date of registration of sale deed between buyer & builder

or date of handing over physical possession of flat.

as it falls in last quarter of this financial year please also advice if we should delay registration till Apr'14 to get it recognised as sel occupied next year.

Replies (1)

It is date of actual possession of the house. legal formalities may happen later or earlier. substance over form will prevail 

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