Capital gain

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priyanka (Querist)
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14 August 2012 hello,
I sold a residential property and after 1 month purchased a new h/p and immediately sold it.from the money i again bought a residential h/p
my question is can i avail exemption u/s 54 for the new h/p purchased the second time and not showing the first one?

Amol S Joglekar

Amol S Joglekar (Expert)
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14 August 2012 Yes you can opt for the exemption for the purchase of 2nd property. (By the way, the sale of newly purchased and sold property no 1 will go to short term)

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