Is sec 54 available only if a house is constructed after 3 yrs with the amount of capital gain ?? and not for finishing construction of a Residential house an year before receiving sale consideration ?
Anjana (Articled assistant and IPCC cleared) (31 Points)
17 October 2011Is sec 54 available only if a house is constructed after 3 yrs with the amount of capital gain ?? and not for finishing construction of a Residential house an year before receiving sale consideration ?
nimish solanki
(IPCC CLEARED)
(108 Points)
Replied 17 October 2011
Source is not important ,only constructon is important. Exemption u/s 54 will be available if house is constructed within 3 years of transfer or purchased within 2 years
Anjana
(Articled assistant and IPCC cleared)
(31 Points)
Replied 17 October 2011
My Actual question is if construction before an year of transfer can be exempt ?
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