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capital gain

This query is : Resolved 
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(Querist)
13 September 2017 Sold an residential house propery and purchased residential plot. Whether deduction available under section 54 of income tax??
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Amol S Joglekar

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Amol S Joglekar (Expert)
13 September 2017 No deduction for mere plot. You construct a residential unit(However small it may be) and then avail the benefits of section 54
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vaibhav

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vaibhav (Querist)
13 September 2017 can i contruct it now and avail the benfit??
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vaibhav

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vaibhav (Querist)
13 September 2017 as plot has been sold and purchsed in fy 16-17
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
14 September 2017 You can construct within 3 years from the date of transfer i.e within FY 2019-20
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