EXEMPTION UNDER SECTION 54 FOR UNDER CONSTRUCTION FLAT

This query is : Resolved

anuj kumar khaitan (Querist)
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30 July 2025 ASSESSEE SOLD A RESIDENTIAL FLAT-A IN JAN'25 FOR 1.5 CRS.HE HAD BOOKED ANOTHER UNDER CONSTRUCTION FLAT-B DURING 2021, FOR WHICH HE HAS PAID 1 CR TILL NOW AND WILL GET POSSESSION OF THE SAME IN FEB'2026.
WHETHER HE CAN CLAIM EXEMPTION OF 1 CR UNDER SECTION 54 FOR THE SAME AS HE IS GETTING POSSESSION WITHIN 2 YRS OF SALE OF FLAT-A.?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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31 July 2025 Whether agreement was registered in 2021? whether exemption was claimed for Rs. 1 Cr earlier?
Whether the project is still under construction?

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