Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Can I get capital gain exemption

218 views

Save Share

MOTIVATIONAL THE PATH OF SUCCE

1 Points Posted on 19 January 2023

if I sold the property and agreement made after 3 to 4 years later but purchase property before the sold of property with payment of token amount can I get exemption?

Replies (2)

Quick Summary

This discussion explores whether capital gains tax exemption can be claimed when selling a property, even if a new property was purchased with a token amount several years prior to the sale. The consensus is that exemption under Section 54 of the IT Act is possible if the new property is purchased within one year of selling the old one.