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54 f exemption

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 January 2015 in case of exemption u/s 54 f can i claim exemption for the property purchased (only agreement made and part pymt made )two years before but possession not yet recd as on the date of transfer .

for 54 f exemption it can b claimed only if res prop is purchased one year before the transfer. my query is can i calim the exemption if the property is pur befor eone year but part pymt is pending and also possession not yet recd
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
17 January 2015 As agreement made and part payment made before one year exemption u/s 54 f cannot be claimed.
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Rupesh Jain

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Rupesh Jain (Expert)
17 January 2015 on one before property you cannot claim deduction u/s 54F.
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