SALE OF RESIDENTIAL HOUSE PROPERTY PURCHASE AN AGRICULTURAL LAND
This query is : Resolved
02 February 2025
DEAR SIR,
ONE OF MY CLIENT PURCHASED A RESIDENTIAL HOUSE IN THE YEAR 2023-2024 COST OF RS.9,00,000/-, HE HAS SOLD THE PROPERTY COST OF RS.15,00,000/- IN THE YEAR OF 2024-2025, AND ALSO HE HAS PURCHASED AN AGRICULTURAL LAND OF COST OF RS.15,00,000/-.
NOW MY CLIENT AVAIL THE CAPITAL GAIN EXEMPTION BENEFITS OF U/S 54
THANK YOU
ONE OF MY CLIENT PURCHASED A RESIDENTIAL HOUSE IN THE YEAR 2023-2024 COST OF RS.9,00,000/-, HE HAS SOLD THE PROPERTY COST OF RS.15,00,000/- IN THE YEAR OF 2024-2025, AND ALSO HE HAS PURCHASED AN AGRICULTURAL LAND OF COST OF RS.15,00,000/-.
NOW MY CLIENT AVAIL THE CAPITAL GAIN EXEMPTION BENEFITS OF U/S 54
THANK YOU
02 February 2025
Yes, if the property sold is residential house and sold within 12 months from thee purchase of property in 2023-24.
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