sec 54

harinath (student) (229 Points)

19 February 2008  

case: I have 2 residential properties of which i sold 1 for rupees 50lacs costing 5lacs in the year 1990

From the proceeds of the above i constructed 1st floor on the second residential house. whether i get exemption on that or say if purchased land and constructed on that. plz answer for the above