The process of property ownership can be a long one, especially in today’s scenario when many projects get delayed. Many buyers have paid the entire money for their houses years ago, but are still awaiting delivery. So, what should be the date of purchase, especially when it is critical to determine the quantum of capital gains - whether it is long term or short term? Say, a person booked a house in 2012 and received an allotment letter from the developer.
In the following year he registered the flat. He paid the entire amount within three years by 2015. But possession was ...
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