Disallowing Exemption under capital gains ?
This query is : Resolved
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 ?
16 March 2025
yes, if you sell the new house within 3 years of its purchase. Otherwise, no.
18 March 2025
just add 3 years to the date of purchase!!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING SECTION 43B 1 H
- Flat purchase in name of myself,my wife and son
- Tax on Goodwill on LLP
- Capital Gain Tax & Exemption us 54
- Procedure to surrender export incentive
- GST invoice shown by vendor under wrong GSTN
- Intraday trading on shares
- Multiple GST Registration-Asset
- Old car transaction
- Registration of Articleship
- Audit report for a private limted company ( small company) FY 2024-25
- INCOME TAX SAVINGS PLAN FOR NEW REGIME FY 2025-26 (MAN/WOMAN)
- Best Company for Amazon Automation Services in the USA
- TDS on Crypto section 194S
- GST Practitioner Details
- MSME Reporting in 3CB-CD
- SECTION 50AA SHORT TERM CAPITAL GAIN IN CASE OF MLD
- GSTR 3B and GST Challan payment
- How to surrender Duty Drawback
- ITC Reversal & re-claim statement [FY 2023-24]
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
