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Deduction u/s 54 of income tax act

Tax queries 161 views 1 replies

I want to claim exemption u/s 54, I have sold a residential plot in F.y. 2017-18 (may'17), the residential property against which I want to claim deduction, whose registry will be done in nov'17, although I had made 3 installment payment in 2013, 2015 and 2017, but it's registry will be done in November'17. Can I claim deduction on the basis of registry date, as it is after sale of residential plot, on which LTCG arises.

Pls guide.

Replies (1)
No you can not claim exemption u/s 54... As purhase should be maximum one year previous.... What is to be seen is purchase date and not registry date.


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