IF THE BOOKING AMT OF THE PROPERTY IS MADE IN 1994 AGREEMENT IS MADE IN 1999, POSSESSION IS RECEIVED IN 2004, AND THE AGREEMENT IS REGISTERED IN 2009. FROM WHICH YEAR CAN A INDEXATION BENEFIT CAN BE CLAIMED ????
ashay (CA Final Student) (782 Points)
18 June 2012IF THE BOOKING AMT OF THE PROPERTY IS MADE IN 1994 AGREEMENT IS MADE IN 1999, POSSESSION IS RECEIVED IN 2004, AND THE AGREEMENT IS REGISTERED IN 2009. FROM WHICH YEAR CAN A INDEXATION BENEFIT CAN BE CLAIMED ????
venkat
(partner)
(21 Points)
Replied 18 June 2012
I think it is from the date of possession as rights of ownership of capital asset is created/ transferred under the transfer of property act only from the date of possession. hence from 2004.
CA PARAS BAFNA
(Practising CA )
(33423 Points)
Replied 18 June 2012
I also agree with Venkat by adding as - The right to purchase has been replaced by the ownership in the property. Earlier right to purchase was the capital asset, now the capital asset is the property itself. Now property can only be sold.
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