Current year property gain could adjusted with previous year
This query is : Resolved
SUNITA TIWARI
(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???
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.
New asset can be PURCHASED within a period of one year before or 2 years after the date of transfer of capital asset.
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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