Capital gains tax-Whether investment in a flat under the Self-financing Scheme of the Delhi Development Authority would be construction for purpose of sections 54 and 54F of the Income-tax Act, 1961

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....se of sections 54 and 54F of the Income-tax Act, 1961 Circular No.471 Dated 15/10/1986 To All Chief Commissioners (Admn.) & Commissioners of Income-tax. Sir, Subject: Capital gains tax-Whether investment in a flat under the Self-financing Scheme of the Delhi Development Authority would be construction for purpose of sections 54 and 54F of the Income-tax Act, 1961. Sections 54 and 54F of ....

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....-financing Scheme of the Delhi Development Authority, the allotment letter is issued on payment of the first instalment of the cost of construction. The allotment is final unless it is cancelled or the allottee withdraws from the scheme. The allotment is cancelled only under exceptional circumstances. The allottee gets title to the property on the issuance of the allotment letter and the payment o....