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Purchase of Plot
Whether purchase of Plot is eligible for exemption under section 54 (Capital gains arising from the transfer of residentail house property)
Replies (2)
Plot should be purchased for construction of houise property. And construction on that plot should be completed within 1 year before, or 2 years after the date of transfer (if purchased) or 3 years after the date of transfer (if constructed).**
Thanks, Vijay Sir.
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