Long term capital gains
This query is : Resolved
28 March 2015
Whether the LTCG arising out of residential house can be invested in agricultural land to qualify exemption u/s 54 ?
28 March 2015
No it will not qualify for exemption.
28 March 2015
The agricultural land purchased will be used for construction of residential house.
In that case whether deduction will be available ?
In that case whether deduction will be available ?
28 March 2015
Within 3 years if you construct the residential house on the agricultural land then it will qualify for exemption u/s 54.
28 March 2015
If holiday homes are constructed on agricultural land whether they will qualify for deduction u/s 54 ?
28 March 2015
Construction of a single residential house property only qualify for exemption. You only can treat such property as your holiday home.
28 March 2015
The Capital Gains to be invested are of Jan 2014
In That case two properties will qualify for deduction ?
In That case two properties will qualify for deduction ?
28 March 2015
In that case two properties will qualify.
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