Sale of alloted flat

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An individual has sold his alloted flat , of which possession is yet to be given .. i am clear to that fact that it will be an LTCG. what i am confused with is that .. will it get the 54 exemption of  Residential house ........ !! ????

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On 30 December 2010 at 09:40 Report
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Student
123 Points Posted on 30 December 2010

Hi

As long as the seller is the owner of a residential house and the gain is LTCG S 54 is avaliable.

 

Regards

Sahana Murthy

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On 30 December 2010 at 14:32

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