Capital gain -section 54f cost of the property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2016
Can the purchase of a plot that is to be used for the construction of a residential house be claimed as the cost of construction while claiming exemption under Section 54F.
Amol S Joglekar
(Expert)
25 April 2016
Yes, it can be very well taken in the cost of construction. (The construction should be completed before stipulated time as per section 54F)
25 April 2016
Pl see CBDT circular 667 dated 18.10.1993 in support of Amol Ji's view.
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