Dear Collegues,
My client has purchased a New flat on 14-07-2016 and sold his old flat on 16-02-2018
That means he has purchased new prop first and old prop is sold later
can he take exemption under sec 54 in this scenario??
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Long term capital gains
Replies (4)
yes you can
as new prop. purchased within 1 yr before transfer of property
No. You can not take since it is earlier than one year.
You should have purchased the property during 16-02-2017 to 16-02-2018.
no you can't claim 54 deduction since the purchase date is beyond one year
what if the date possession is 15th July,2017 ???
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