29 November 2010
date of pur of res. house on 15-12-06 and sold shop on 14-2-08 whether exemption is available or not if whole consideration is paid from 1-4-07 to 31-03-2008 and possetion recd before 31-1-10
29 November 2010
Holding period is less than 36 Months. So it is a short term capital asset. Deduction under section 54 will not be allowed for short term capital asset.
29 November 2010
sir, please read the question once again there is no point of short term capital assets because my point is on first purchase of residential house property & then sale of Shop. the matter is of availability of exemption of sec.54f
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