Sec.54
This query is : Open
28 January 2015
Can a person avail exemption if he sale a residential property and invest in land
(Plot).
(Plot).
31 January 2015
section 54 exemption is available only if new residential house is constructed within 3 years from transfer of original asset. So if invest in land and construct a house within 3 years of transfer you can claim exemption u/s 54.
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