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Capital Gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 November 2009 The assessee has sold his residential property on 9.11.09 and before that he has constructed other residential property (plot purchase in 1976), the completion of which has been obtained in Nov.2008. Whether the benefit u/s 54 can be claimed to avoid Capital Gain Tax or not?
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
17 November 2009 yes, if he have only one house property (other then transfered house) on the date of transfer .
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