section 54 query
This query is : Resolved
03 September 2016
can we claim exemption u/s 54 if :-
1) a residential house property is booked but still the construction is going and possession of flat will get after one year.AND
2) the old house was in the name of Mr and his wife but the new house is in the name of Mr .A and his son.
11 September 2016
THE ANSWER TO QUERY I IS YES PROVIDED THE SALES PROCEEDS IS TOTALLY INVESTED. THE ANSWER TO QUERY IS NO. THE SELLER AND PURCHASER SHOULD BE SAME PERSON.
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