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Whether OC will be taken as date of acquisition or agreement for sale will be considered

31 May 2021

My question is whether OC will be taken as date of acquisition or agreement for sale will be considered. Kindly also provide case law on this.
Thanks.

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6 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 31 May 2021

Is oc occupancy certificate, Date of acquisition

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Bhavik Punamiya (39 Points)
Replied 01 June 2021

This is for the purpose of indexation benefit

Sivaramaraju G (Learner) (2398 Points)
Replied 01 June 2021

If you buy from a builder then the date of allotment is the date of acquisition.

if buy from outsiders date of sale agreement is the date of acquisition.

Susmita Dutta, CA , CPA (CA ) (2141 Points)
Replied 02 June 2021

As per ITAT, date of allotment is to be considered as date of acquisition.

Bhavik Punamiya (39 Points)
Replied 02 June 2021

Can you send me the name of judgement

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Income Tax Wala: (Fin. Expert) (Chartered Accountants) (2015 Points)
Replied 02 June 2021

Nor OC neither allotment letter to be considered as date of acquision. However allotment letter and further payments to builder or any other authority can be considered for capital gain indexation.

only registered / non registered sale agreement (Registry of property) can be considered as date of acquisition.