Section 54
This query is : Resolved
21 October 2007
Does the Renovation Exps/Capital Expenditure in making it habitable in a House qualify for deduction U/s 54
22 October 2007
The exemption is available if the assessee invests the amount of capital gains,
* In purchase of another residential property one year before or two years after the sale of original property.
* In constructing another residential property within a period of three years after the date of sale.
* In purchase of another residential property one year before or two years after the sale of original property.
* In constructing another residential property within a period of three years after the date of sale.
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