If a person sells his house to buy a new appartment as a residential property and the dealer promises to hand over the possession after 4 year (being the construction period), can the assessee avail exemtption u/s 54 (sal of one residential property to purchase another one and investing the total proceeds along with capital gain therein).?
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Exemption u/s 54
Replies (2)
Yes , You can avail the exemption u/s 54.
if sale agreement is signed now, then yes, exemption of sec 54 can be claimed.
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