Disallowing Exemption under capital gains ?
This query is : Resolved
Quick Summary
15 March 2025
I have sold an apartment in Bangalore on 19 September 2023( unregistered apartment)and purchased an apartment in Hyderabad on October 13 2023 with sale proceeds of the above said Bangalore apartment.
I have claimed exemption under section 54 while filing my return .
If I want to sell the new apartment once construction is over,will they disallow my exemption which I claimed in my Return ?
I have claimed exemption under section 54 while filing my return .
If I want to sell the new apartment once construction is over,will they disallow my exemption which I claimed in my Return ?
Nikhil Kaushik
(Expert)
16 March 2025
yes, if you sell the new house within 3 years of its purchase. Otherwise, no.
Nikhil Kaushik
(Expert)
18 March 2025
just add 3 years to the date of purchase!!
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