Capital gains
This query is : Resolved
08 September 2015
My client has sold a vacant site on 21/03/2014 for Rs.15.00 lakhs. He has purchased one Residencial House Property on 09/03/2013 for Rs.13.00 lakhs before the sale of land. Can he claim exemption u/s 54F of Capital Gains purchase of House Property before one year.
08 September 2015
As he has purchased residential house property within one year before the sale of land he can claim u/s 54F provided he does not own a residential house property other than the new one purchased in his name as on the date of transfer.
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