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CAPITAL GAIN CALCULATION DATE
If property allotted in 2011 and registry was done in 2015 which date to be taken for capital gain calculation, the property was sold in Feb 2021.thanks
Replies (4)
As per case laws the 2011 will be the year of acquisition
There are different in views in many judgements also the owner acquire the title of property only when the property gets registerd in owner's name
2011 shall be taken
Registration of property is just a consequential act. when almost all or the full payment us being done by flatholder to builder he becomes the owner and starts enjoying all the rights and duties as flatholder.
so date of acquisition would be allotment date which is 2011.
so date of acquisition would be allotment date which is 2011.
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