Purchase year for inflation index (possession or registry)
Querist :
Anonymous
(Querist) 05 June 2018
This query is : Resolved
Hello experts,
I am an NRI. I sold my flat in Indirapuram, Ghaziabad, U.P. in May-2018.
I booked that flat in 2005 from the builder directly and got the possession of that flat in Sep-2006 and started living there.
However, I got the registry of that flat done in Feb-2012.
Now my question is about the Purchase Year for Cost Inflation Index.
For this flat, Purchase year would be considered 2005 when I booked the flat
OR
2006 when I got the possession of the flat and started living there
OR
2012 when I did the registry of the flat?
Thanks in advance.
Thanks,
BK
Guest
(Expert) 05 June 2018
Terms and regulations prevailing on the date of Registration only would legally apply.
R.Ramachandran
(Expert) 05 June 2018
You will be able to claim the period of holding of the asset, for the purpose of indexation of cost of acquisition, from the date of possession of the property, provided you have proper document showing the date of handing over/taking over of property in question.
But the indexation of stamp duty+registration charges will take place only from the year in which you actually paid the same, and not from the date of possession.
