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Exemption from LTCG in case of Flat bought in an under construction building after 1.5 years
Is exemption available if assessee sell a residential house and buy a flat in under construction building after 1.5 years of transfer of original house ?
Replies (5)
Yes, provided the funds were parked in Capital Gains Scheme account of any authorized bank during the period, and the relevant ITR was filed within due date.
Is there any difference in exemption in cons truction of house by assessee himself and buying a flat in under construction building which is about to finish in 3 years.
NO...
Exemption is available under section 54 provided you comply with all the conditions of section 54.
in so far as Exemption is concerned , no difference between the two. Same conditions either for self construction or flat booking in builder construction building.
in so far as Exemption is concerned , no difference between the two. Same conditions either for self construction or flat booking in builder construction building.
yes, exemption is very much available under Section 54 of Income Tax act
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