Date of acquisition for calculating capital gain

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Sumiti Jain (Querist)
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08 December 2011 If we purchase a house by making part payments in different years then what is the date of acquisition?
Whether it will be the First Payment or Registration date or last date of payment?

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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08 December 2011 Date of aquisition=

1.date of possesstion of house taken

or
2. date of registration.

whichever is earlier

CA. Lohith Jagadeesh

CA. Lohith Jagadeesh (Expert)
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08 December 2011 Hi,

If there is an Agreement to Sell as per the provisions of Section 53A of the Transfer of Property Act and if the Possession is handed over then the date of Possession will be considered else, date of Registration of the Property will have to be considered.

Thanks

Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons

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