05 January 2017
as per provision construction should get completed within 3 years from the date of sale or transfer.What if construction is completed before sale of old house property.
05 January 2017
Here in Sec 54 you can claim exemption as per provisions even if it has been constructed before the date of transfer. However text says that construction should be completed within 3 years after transfer and section itself is silent about construction before transfer at the same time there is no where written that construction should not be done before transfer. So it should be noted that all 54 series exemption are laid down in Act for benefiting the assessee. You can take exemption without any worry.
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