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of <h1>Investment in DDA Flats Under Self-financing Scheme Qualifies as Construction for Capital Gains Tax Exemption.</h1> The circular addresses whether investment in a flat under the Delhi Development Authority's Self-financing Scheme qualifies as construction under sections 54 and 54F of the Income-tax Act, 1961, for capital gains tax purposes. It concludes that such investments are considered construction rather than purchase. This classification allows taxpayers to benefit from capital gains tax exemptions if the investment is made within the specified time frame. The allotment of flats is deemed final upon the issuance of the allotment letter and payment of the first installment, with subsequent payments being a formality. The circular instructs tax officers to apply this interpretation.
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