Section - 54
This query is : Open
Jignesh Selarka
(Querist)
21 October 2017
Happy New Year to all the experts and members.
My question is that one individual sold house property and acquiring one plot of land than he can avail exemption under section - 54 or not?
My question is that one individual sold house property and acquiring one plot of land than he can avail exemption under section - 54 or not?
K Srinivas, CMA CS
(Expert)
21 October 2017
Acquiring only plot of land is not sufficient. Construction should be done within 3 years from date of transfer
CA Rashmi Gandhi
(Expert)
21 October 2017
No deduction available if you acquired plot.
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