Capital gain u/s 48

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2011 a person having income from capital gain from transfer of capital assets (u/s 49(1) situation)

she also acquired new assets eligible u/s 54 before 2 year from the transfer of capital assets. but she constructed within one year from the date of transfer.

could she claim deduction u/s 54 or not?

please tell me needfully......

Guest

Guest (Expert)

22 December 2011
Purchase before 1 year or within 2year after transfer of capital asset.

Construction can be complete within 3 years of transfer of capital assets.

So you can claim deduction u/s 54.