Exemption u/s 54
This query is : Resolved
02 April 2016
If a house property is sold and an additional floor is constructed on an existing house before the due date of filing the return
Can exemption u/s 54 be availed in capital gain and if no where can an exemption be taken
02 April 2016
New addition house in additional floor, is considered to be one more unit. So you can not enjoy benefit for capital gains u/s 54 for construction of first floor.
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