Inheritance property land received by the person through flats
He sold flats
Can he claim exemption under section 54, either construction of building within 3 years or purchasing land/ building within 2 years from the sale date
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Flat Sale
Replies (2)
In such cases, there arises 2 types of capital gains. One long term for land transaction. While another the sale of the flat received from the builder. First one will be long term in your case and hence you will be able to invest in one house property u/s. 54F, subject to fulfillment of its condition/s.
"Inheritance property land received by the person through flats He sold flats"
Can you elaborate more on this viz., when was the property inherited, when did the new flat received, is the new flat received on account of JDA?
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