Capital gain exemption u/s 54

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Suhasini (Querist)
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27 July 2013 hello all..
pls help me in this
i have a right to ownership of a residential property which is still under construction and ownership has not been alloted yet..
i want to sell it off and acquire a new residential property again which is under construction.
can i claim exemption u/s 54?

Suhasini

Suhasini (Querist)
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27 July 2013 Pls suggest

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 July 2013 Right to acquire a house is not equal to ownership of the house. You have sold the right and not a house. 54F may be availed -provided the right is a long term capital asset.

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