Capital gain
This query is : Resolved
02 August 2013
mr a own purchased one plot 1985..
and in 2010 he construct a house on it
in 2011 in sold his house..
now can construction cost be treated as cost of improvement??
can mr a claim exemption u/s 54?(sale long term residential house)
and in 2010 he construct a house on it
in 2011 in sold his house..
now can construction cost be treated as cost of improvement??
can mr a claim exemption u/s 54?(sale long term residential house)
CA PARAS BAFNA
(Expert)
02 August 2013
In my view he can do so but preference must be given to Section 54F.
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