Date of purchase of property for CG - Agreement / Possession / Sale Deed?

Dear sirs, 
For the calculation of capital gains on property, what date is taken as date of acquisition? There are 3 dates which I have.
Sale Agreement that the builder has agreed to sell the flat - April 2008
Date of possession - May 2011 (builder delays in finishing the flat)
Sale Deed - Jan 2012 (delayed due to telengana bandh in govt.offices)

My gains are LTCG.
For the purposes of indexation, which year do I take as date of acquisition? 

Thanks for your help.
Asked 1 year ago in Capital Gains Tax from Hyderabad, Telangana
Sale agreement registered accompanied by possession will be transfer under Income tax Act. Therefore if sale agreement is registered and then if possession is given then date of possession will be date of acquisition.
Vijay N. Kale
CA, Hyderabad
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As per our view if the builder handed over possession letter to you on May 2011 then that date will be taken as date of acquisition for capital gains purpose and indexation.
Shyam Sunder Modani
CA, Hyderabad
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ok sir
Shyam Sunder Modani
CA, Hyderabad
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Based on facts given, I feel it should be May 2011.
Vijay N. Kale
CA, Hyderabad
248 Answers
4.9 on 5.0
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