capital gain on second house property
This query is : Resolved
15 February 2011
sir
i have 02 residental property i want to sold out one property and another want to re construct .
now problem is that can i invest the LTG in old house construction or go for new house purchase
i have 02 residental property i want to sold out one property and another want to re construct .
now problem is that can i invest the LTG in old house construction or go for new house purchase
15 February 2011
as per section 54 to claim exemtion ..the condition is to invest in house preperty like...
before one year or within 2 yrs purchase a house property ...
or within 3 yrs constructin of a house.
But as per Ananda basawappa case and also unlike 54 F ,
it can be put in any house property which includes development.
before one year or within 2 yrs purchase a house property ...
or within 3 yrs constructin of a house.
But as per Ananda basawappa case and also unlike 54 F ,
it can be put in any house property which includes development.
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