Section 54
This query is : Resolved
20 December 2011
suppose a person purchased a flat in 2005-06 and sell it in december 2011, the capital gain chargeable say 5 lakhs, he purcahsed another flat of which agreement date is in 2009 and possesion date is feb-2011 can he will be eligible for section 54 to set off the capital gain arised in former case...????
20 December 2011
Yes, he will be entitled for exemption.
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