Section 54
This query is : Resolved
Querist : Anonymous
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 ?
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 ?
21 April 2011
Yes definately. Execute agreement of sale .
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 April 2011
Thanx for the reply.. Can you give me any judgement on this ?
08 July 2023
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