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?
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.
CAclubindia
