Mr.A and Mrs A Sold a house Property in Dec 15 for 95 lakh and Bought New Residential Property @ 98 lakh in March 16 and Capital Gain U/s 54 was adjusted while filing ITR of F.Y.2015-16. Possession of New Res is received in March 17.
Mrs.A also sold one Capital Asset for 1.5 Cr in Mar 17.
Can this capital gain be adjusted U/s 54F against residential house purchased in March 16?
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Capital Gain
Replies (3)
No
Sir thank you for the prompt response. Just a request to elaborate if possible.
For section 54F exemption, prior investment under construction of house property is not allowed.....
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