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Current year property gain could adjusted with previous year

This query is : Resolved 
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(Querist)
28 November 2014 if I purchase new property in previous year and sale out other property in current year. can I adjust the property gain???
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Amol S Joglekar

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Amol S Joglekar (Expert)
28 November 2014 Hope you are using the word ADJUST in the context of section 54 or 54F
New asset can be PURCHASED within a period of one year before or 2 years after the date of transfer of capital asset.
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Rupesh Jain

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Rupesh Jain (Expert)
29 November 2014 you can adj. if you buy residential property before one year before tfr and two year after the tfr.
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