benefit u/s 54F of the income tax act,61

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Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2011 I sold the land in April.2010 and I purchased a plot in Nov.2009 and construct a residential house on the same plot which completed in Jan.2010 can I get the benefit u/s 54F as before one year construct the house.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 March 2011 In the case of construction, it should necessarily succeed the date of sale meaning thereby you will loose the benefit of section 54F since construction preceded the sale.

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