Exemption u/s 54 and 54f
This query is : Resolved
vishal suryan
(Querist)
04 February 2013
the assessee has sold his capital asset and consideration amount is invested in purchase of open plot but not for any construction of residential house on that plot so the question is weather he can claim exemption for purchase of plot
thanks in advance
thanks in advance
04 February 2013
in my view it's not possible
exemption u/s 54, 54f is given for purchase or constuction of residential house property
exemption u/s 54, 54f is given for purchase or constuction of residential house property
CA Prashant Gupta
(Expert)
04 February 2013
agree with Kunal
I don't think only plat can fulfil condition of 54 & 54F
I don't think only plat can fulfil condition of 54 & 54F
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