Section 54 - tax filing year query

Vinod Lakshmanan (Tech Lead) (47 Points)

26 July 2014  

Hi,

I have sold a property in April 2013 and have got possession of the new flat (which I plan to claim under sec 54) in April 2014. Do I have to declare capital gains under AY 2014-2015 (as I sold the property in April 2013) or under AY 2015-2016 (as I got possession in April 2014)? Please help

Thanks,

Vinod