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Section 54

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 April 2011 Sale of house property : Rs 50 Lacs..

Indexed COA : Rs.35 Lacs..

Status : Long term..

Bought a new flat for Rs 50 Lacs (entire payment made today) from a builder who promises to give me the possession in 3 years failing which he will give me some amount as compensation for delay..

Can i avail exemption u/s 54 ?
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Ratan Sharma

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Ratan Sharma (Expert)
21 April 2011 Yes definately. Execute agreement of sale .
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 April 2011 Thanx for the reply.. Can you give me any judgement on this ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 July 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp

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