Reg. return of tax benifit due to sale of property.

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  1. P K Dixit

    P K Dixit New Member

    As per IT rules if the flat is sold after 5 years of purchase, the the tax benefit availed will not be returned back. Please clarify reg. the purchase date. Purchase date is the date of obtaining possession or the dates when you have paid the money to the builder for flat purchase ?. For my case if I consider the from dates of the money paid to the builder & date of registration of property, as on today it is more than 5 years. But If I consider from the date of possession, as on today is 4.5 years. As I am planning to sell my property please guide me.
     
  2. Saurabh2017

    Saurabh2017 New Member

    @P K Dixit Date of first allotment will be taken in consideration for the purpose of Capital Gain, Not the Date of Passession

    You Can Also refer the Judgement of Punjab And Haryana High Court in the Case of Vinod Kumar Jain v CIT
     
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