Capita gains date of purchase for NRI property

 Non-resident Indians (NRIs) can claim the Section 54/54EC/54F tax exemption, The time limit :purchase a new house 1 year before or 2 years after the transfer, or construct one within 3 years. But these exemptions are only available for long term gains (certain conditions and restrictions are also applicable) .

Dear Sir,

For a construction-linked property, the purchase date is generally taken as the date of allotment/booking allotment letter, if it gave you a clear right in the property.

It is usually not the possession date or registration date for deciding long-term or short-term capital gain.

If the property was held for more than 24 months from that date, it should generally be treated as long-term capital asset. Please keep the allotment letter, builder-buyer agreement and payment receipts ready.

For a more detailed review of your case, you may book a phone consultation.

CA Shubham Goyal

Dear Sir,

Hope you are doing well.

For an under-construction or construction-linked property, the holding period for capital gains is generally counted from the date of allotment, provided the allotment gave you enforceable rights over the property—not from the date of possession or registration.

So:

• 
  Purchase date (generally): Date of allotment
• 
  Long-term capital gain: If sold after holding the property for more than 24 months from the allotment date (subject to the facts of your case).
  
  
  

Thanks & Regards,

Payal Chhajed

Date of purchase for constitution linked properties are generally considered the date when you receive the allotment letter upon partial payment.