Capital gain
This query is : Resolved
02 July 2013
mr. X own 2 plots and 1 residential house.
now mr. x decide to sold his residential house and to start construction on his plot..
whether mr x entitled to exemption u/s 54 of the amount spent ion construction of new house..??
if in above case mr x start construction of his new residential house on his plot before 1 year from the date of sale of his existing residential house.. whether he's entitled to exemption u/s 54 in this case?
now mr. x decide to sold his residential house and to start construction on his plot..
whether mr x entitled to exemption u/s 54 of the amount spent ion construction of new house..??
if in above case mr x start construction of his new residential house on his plot before 1 year from the date of sale of his existing residential house.. whether he's entitled to exemption u/s 54 in this case?
Rupesh Jain
(Expert)
02 July 2013
YES HE IS ENTITLED FOR CONSTRUCION NEW HOUSE U/S 54
AND HE ALOW TAKE EXEMPTION BEFORE ONE YEAR PLOT PURCHASES TAKE EXMPTION U.S 54
AND HE ALOW TAKE EXEMPTION BEFORE ONE YEAR PLOT PURCHASES TAKE EXMPTION U.S 54
Message likes :
1 times
CA UMESH DULAL
(Expert)
02 July 2013
agree with rupesh jee
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- TDS on purchase of under construction property from a reseller
- UDIN ISSUE
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
