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Querist : Anonymous

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Querist : Anonymous (Querist)
10 December 2010 Can benefit u/s 54 be availed for a flat which is sold when it is still under construction?

What if a flat is booked on 12th floor & subsequently sold but the construction is completed upto 7th floor only? Is it deemed to be a residential house property?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
10 December 2010 If u have not got possesion then how the property will be claimed as long term? So no exemption could be claimed u/s 54.

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