A plot is purchased in FY 2008-09. After that 25 % construction is completed on that plot as per HUDA laws in FY 2011-12. Now this house is sold in current FY.
We have two more flats/residential property since FY 2008-09, which are given on rent and rent income is shown under the head Income from house property.
Whether we can clain deduction us 54, if we invesrt the sale proceed/capital gains arise from above property in purhase of new residential property.
CAclubindia
