capital gains
This query is : Resolved
Arun Gupta
(Querist)
05 January 2011
u/s 54F capital gain is exempt if entire sale proceeds of sale of land are invested in construction of residential house within 3 years. My question is:
Is there any minimum size and area of residential house that has to be constructed in the IT Act? Pl. give case laws if any.
Is there any minimum size and area of residential house that has to be constructed in the IT Act? Pl. give case laws if any.
Manmohan ACA, CS
(Expert)
05 January 2011
there is no minimum size and area of residential house that has to be constructed to claim exemption !!
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