Capital gain
This query is : Resolved
02 July 2013
mr. X own 2 plots and 1 residential house.
now mr. x decide to sold his residential house and to start construction on his plot..
whether mr x entitled to exemption u/s 54 of the amount spent ion construction of new house..??
if in above case mr x start construction of his new residential house on his plot before 1 year from the date of sale of his existing residential house.. whether he's entitled to exemption u/s 54 in this case?
now mr. x decide to sold his residential house and to start construction on his plot..
whether mr x entitled to exemption u/s 54 of the amount spent ion construction of new house..??
if in above case mr x start construction of his new residential house on his plot before 1 year from the date of sale of his existing residential house.. whether he's entitled to exemption u/s 54 in this case?
02 July 2013
YES HE IS ENTITLED FOR CONSTRUCION NEW HOUSE U/S 54
AND HE ALOW TAKE EXEMPTION BEFORE ONE YEAR PLOT PURCHASES TAKE EXMPTION U.S 54
AND HE ALOW TAKE EXEMPTION BEFORE ONE YEAR PLOT PURCHASES TAKE EXMPTION U.S 54
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02 July 2013
agree with rupesh jee
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