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Section 54

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(Querist)
21 October 2007 Does the Renovation Exps/Capital Expenditure in making it habitable in a House qualify for deduction U/s 54
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CA. Ramesh P Choudhary

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CA. Ramesh P Choudhary (Expert)
22 October 2007 The exemption is available if the assessee invests the amount of capital gains,

* In purchase of another residential property one year before or two years after the sale of original property.

* In constructing another residential property within a period of three years after the date of sale.

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