Section 54
Vani Sundaram (6 Points)
09 August 2020
Can i claim exemption under section 54 even if I don't posses agreement for purchase of residential property
6 Replies
Yudhishthir Sharma
(Article)
(207 Points)
Replied 09 August 2020
What type of asset you transferred ?
sabyasachi mukherjee
(27819 Points)
Replied 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.
But since u do not hv any agreement of purchase while purchasing the property.Its difficult to sale.
Yudhishthir Sharma
(Article)
(207 Points)
Replied 09 August 2020
Exemption under sec 54 only on transfer of long term residential house property.
sabyasachi mukherjee
(27819 Points)
Replied 09 August 2020
But it cannot be transferred in this case since there is no purchase agreement.
Yudhishthir Sharma
(Article)
(207 Points)
Replied 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.
@ Vani sundaram
if you have any ownership document related to such property than you claim exemption, otherwise don't.
sabyasachi mukherjee
(27819 Points)
Replied 10 August 2020
So the question is not valid.
Sec 54 arises for only long term house property.
Sec 54 arises for only long term house property.
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