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??
Menu
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 ???
Recent Topic
- Claiming Pre Possession Home Loan Interest
- Tax on Pension from EPFO
- Indexation of Sale of Property under New Regime
- TDS ON RENT BY TENANT
- Forward tax charge gst related
- SBI direct mutual funds ITR
- 44AE Section
- FEMA compliant structure
- Tax obligation in AY 2026-27
- EFILING ITR2 FROM COMMON FILING UTILITY
Related Topics
CAclubindia
