Exemption under section 54

No; only the expenditures on construction during the specified period are allowed for exemption, even though the construction may have commenced prior to that date.

Please check my reply on 

/experts/exemption-under-sec-54-2451039.asp

Originally posted by : CA CS Gopal Somani
	Please check my reply on  /experts/exemption-under-sec-54-2451039.asp

Excuse me sir, I have a doubt regarding section 54F is it immaterial when the construction expenses has been incurred and if construction is completed within 3 years of transfer of property...all the construction expenses (pre and post transfer) will be eligible for considering for exemption or else only post transfer construction expenses will be eligible expenses for computing exemption amount. Please clarify.

Thank & regards,

CA Nitish Agrawal