Sec 54 of income tax act
This query is : Resolved
04 March 2012
Dear Collegues,
MR.A has sold res & LTCG he has invested in under construction bldg.,
but since IOD has not been received, builder has given only allotment letter.
shall he get benefit of sec 54?
regards
c.a.paresh zatakia
9833855518
MR.A has sold res & LTCG he has invested in under construction bldg.,
but since IOD has not been received, builder has given only allotment letter.
shall he get benefit of sec 54?
regards
c.a.paresh zatakia
9833855518
04 March 2012
In case LTCG has been utilised for acquiring a flat in the under construction building , it is sufficient compliance for Section 54.
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