Capital Gain on House Property

This query is : Resolved

Sagar Kulkarni (Querist)
Follow

26 January 2011 What can be taken as the effective date for starting the calculation of holding period of a House Property- the date of registration of agreement or the date of possession or the date of last payment instalment?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

26 January 2011 The date of agreement of purchase of property is the date from which period of holding should be counted. The court has regarded right to purchase the property as a capital asset and held that the date when the agreement to purchase was made is the date from when the period of holding the asset should be counted and not from the date of possession.

Citation :- Jitendra Mohan Vs. ITO [2007] 11 SOT 594 (Delhi).

Message likes : 1 times