Capital gain u/s 48
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2011
a person having income from capital gain from transfer of capital assets (u/s 49(1) situation)
she also acquired new assets eligible u/s 54 before 2 year from the transfer of capital assets. but she constructed within one year from the date of transfer.
could she claim deduction u/s 54 or not?
please tell me needfully......
she also acquired new assets eligible u/s 54 before 2 year from the transfer of capital assets. but she constructed within one year from the date of transfer.
could she claim deduction u/s 54 or not?
please tell me needfully......
Guest
Guest
(Expert)
22 December 2011
Purchase before 1 year or within 2year after transfer of capital asset.
Construction can be complete within 3 years of transfer of capital assets.
So you can claim deduction u/s 54.
Purchase before 1 year or within 2year after transfer of capital asset.
Construction can be complete within 3 years of transfer of capital assets.
So you can claim deduction u/s 54.
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