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Section 54 understanding
booked flat in 2010. started installment in 2011. completed 80% payments in 2011. got possession in 2015. if i sell flat in 2016 should I consider it as long term capital gain? I.e. 3 years will be calculated from date of booking or date at which flat is allotted to client.
Replies (2)
Date on which flat is alloted to purchaser
I agree with Karthik. The allotment letter date will be the date of acquisition of the flat
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