13 July 2017
An Individual has Purchased a House Property "A" in June 2010 Sold the property A in June 2015 Invested the amount in new house property B in June 2015 anc claimed the deduction in Sec 54
Now Can he sell the property in July 2017 i.e after 2 years and before completion of 3 years as per the new rules that holding period has been reduced to 2 years for LTCG????
13 July 2017
it has to be he consequential change in section 54. The period of 3 years must be reduced to 2 years....... Please ensure the same with the new act before taking the call.
14 July 2017
Though house held for more than 24 months will be treated as long-term, Sec 54 requires the new to be held for 36 months or exemption is withdrawn.
CAclubindia
