Is an open site or an na land is residential house property
This query is : Resolved
29 November 2013
Is an open site or an non-agriculture (NA) land without any building be considered as residential house property for the purposes of availing exemptionof capital gains u/s 54?
please guide me friends..
thanks in anticipation..
please guide me friends..
thanks in anticipation..
Nitin Bhuta
(Expert)
29 November 2013
No as such land is not habitable for the purpose of residential requirements but if you construct house on the said land within permissble time limits after complying with the procedures you can claim the exemption.
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