Date of allotment of flat to be constructed by DDA to be deemed as purchase date for computing capital gain tax

IT : CBDT in its circular No.471 dated 15-10-1986 has clarified that when an assessee purchases a flat to be constructed by Delhi Development Authority (D.D.A.) for which allotment letter is issued, date of such allotment would be relevant date for purpose of capital gain tax as date of acquisition. Further, it has been clarified by circular dated 16-12-1993 that if terms of schemes of allotment and construction of flats/houses by cooperative societies or other institutions are similar to those

from www.taxmann.com Latest Case Laws http://bit.ly/2D3KwEX