Hello,
Good day to all.
I have received an amount from Sale of a house which my Parents transferred to me as Gift Deed.
Now should I purchase only a new residential house property to claim Exemption under section 54.
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Income from Capital Gain - Exemption u/s 54
Replies (3)
Quick Summary
Sir,
As far as I understand, & assume your Q's,
1) u have been gifted with house from parents.
2) u have sold house,
Now u want to claim various deductions as applicable under 54
please reff to my previous ans, in this forum. to understand sale procedure. indexation, & deductions
As far as I understand, & assume your Q's,
1) u have been gifted with house from parents.
2) u have sold house,
Now u want to claim various deductions as applicable under 54
please reff to my previous ans, in this forum. to understand sale procedure. indexation, & deductions
Yes you can purchase property within 2 years of transfer or construct a new property within 3 years from transfer also you can get deduction under section 54EC by investing in specified bonds within 6 months from the date of transfer
Ok.. sir thank you..can you kindly tell me the specified bonds which can be purchased..
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