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Section 54

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6 Points Posted on 09 August 2020
Can i claim exemption under section 54 even if I don't posses agreement for purchase of residential property
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On 09 August 2020 at 19:34 Report
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207 Points Posted on 09 August 2020
What type of asset you transferred ?
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On 09 August 2020 at 21:29
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Profession Business
28207 Points Posted on 09 August 2020
It's a different section for claiming exemption on transfer of capital asset which results in short term capital gain or long term capital gain.
But since u do not hv any agreement of purchase while purchasing the property.Its difficult to sale.
44 Reply
On 09 August 2020 at 22:04
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Article
207 Points Posted on 09 August 2020
Exemption under sec 54 only on transfer of long term residential house property.
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On 09 August 2020 at 22:14
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Profession Business
28207 Points Posted on 09 August 2020
But it cannot be transferred in this case since there is no purchase agreement.
44 Reply
On 09 August 2020 at 23:03
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Article
207 Points Posted on 09 August 2020
Yes mr. mukherjee.

@ Vani sundaram
if you have any ownership document related to such property than you claim exemption, otherwise don't.
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On 09 August 2020 at 23:20
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Profession Business
28207 Points Posted on 10 August 2020
So the question is not valid.
Sec 54 arises for only long term house property.
44 Reply
On 10 August 2020 at 05:30


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