26 January 2011
one of my client has a house property. He purchase another on 4Lac per month EMI. He wants to sale existing one. If his existing house sold for Rs.50 lac. then to claim maximum deduction, What is the appropriate timing? Cost of new house is 80 lac.(As house purchased on installment full 80 lac would not b taken for deduction)
26 January 2011
within one year before the existing house property is sold or within two years after the existing house property is sold, one can claim deduction u/s 54
CAclubindia
