Capital gain exemption
This query is : Resolved
01 December 2011
Dear Experts,
Please Suggest me on this:
My Client has sold a land in 2010 but he got advance for the same in the year of 2009 and he purchached a land and started construction in 2009 it self ...my question is whether can he claim any capital gain exemption for this.if so please give me some case laws for the same.
Thanks..
Please Suggest me on this:
My Client has sold a land in 2010 but he got advance for the same in the year of 2009 and he purchached a land and started construction in 2009 it self ...my question is whether can he claim any capital gain exemption for this.if so please give me some case laws for the same.
Thanks..
01 December 2011
The construction of house property should COMPLETE within 3 years of the date of transfer. If you can satisfy this condition then the commencement of construction does not matter.
01 December 2011
Dear Sir,
Thanks for reply but my question is what is the date of transfer i.e the date of receipt of advance money or date of registration.
Thanks for reply but my question is what is the date of transfer i.e the date of receipt of advance money or date of registration.
02 December 2011
The Capital Gain will be considered from the date of sale or transfer.
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