Capital Gain
Jenil Shah (132 Points)
05 December 2017
do we consider purchase deed or satakhat(agreement for purchase) for calculation of indexation
6 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 05 December 2017
Whatever actual amount paid........
Jenil Shah
(132 Points)
Replied 05 December 2017
i want to know the date from which i shall take tge bemefit of indexation
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 05 December 2017
The date of each intallment of payment made after satakhat!!
Z
( )
(2965 Points)
Replied 06 December 2017
We do not need to provide indexation in respect of each date of payment of installation.
Acquiring a property is a separate issue and how the payment is made for that acquisition is a different issue. [There are a few judgements also in this regards.]
Which date is to be used for the purpose of indexation depends on facts of each case. Sometimes we have to use the date of the agreement, sometimes the date of possession, sometimes date of registration and sometimes at other periods.
To avoid litigation, I would recommend picking up the LATER date.
Jenil Shah
(132 Points)
Replied 15 December 2017
but picking up the later date would increase huge amount of tax as there is difference of 2.5 years btwn two dates
Z
( )
(2965 Points)
Replied 15 December 2017
That is what the AO would be tempted to do. However, facts have to be seen in respect of each case.
Was the property under any scheme like the scheme of DDA etc.?
From whom the property was acquired?
Date of entering into the agreement?
Date of the possession?
Date of Registration?
I would need to read the agreement, so I copy thereof.
The amount and date of advance, if any?
Your jurisdiction( High Court Jurisdiction)
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