Respected Experts
Please help me in solving this issue:
Assessee sold a urban land earlier and purchased a house property (A) and that time as per law he took benefit of sec 54f.
Now in PY 2012-13 assessee sold another urban land and now want to purchase another house property (B) for taking benefit of sec 54F.
Facts are:
1.Resedential house property A is 2 year old but not 3 year.
2.Assess has only house A for his resident purpose now.
My Query are:
1.can assessee claim benefit of 54F by acquiring house property B...
2.if assessee has to hold till 3 year for selling out House property A..
if not then any other alternative for getting deduction of 54F.
and what is the time limit for the same..
Thanks in Advance
CAclubindia
