Section 54
This query is : Resolved
31 October 2020
Hello,
For the purpose of section 54 (to save LTCG tax), can I reinvest in a residential property which is under construction?
Or do I must only invest in a residential property which is ready to move in.
Appreciate your response!
Thanks, Pradeep
For the purpose of section 54 (to save LTCG tax), can I reinvest in a residential property which is under construction?
Or do I must only invest in a residential property which is ready to move in.
Appreciate your response!
Thanks, Pradeep
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31 October 2020
Yes you can invest in house under construction to be completed within 3 years.
Message likes :
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31 October 2021
In addition to above, park your un-utilized capital gain in CGAS, 1988 account before filing corresponding ITR.
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