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Capital gain exemption u/s54
can under construction residential property be considered for exemption u/s 54 of Income Tax Act?
Replies (2)
No, it should be completed as specified by prescribed time limit, i.e. purchase one yr before transfer or
purchase two years after transfer or
constructed three yr after transfer
purchase two years after transfer or
constructed three yr after transfer
YES
YOU ARE NOT AVAIL TO TAKE BENEFIT U/S 54 IF YOU PROPERTY UNDER CONSTRUCTION
YOU CAN TAKE BENEFIT IN 5 EQUAL INSTALLMENT IN 5 YEAR AFTER COMPLETE CONSTRUCTION OF YOUR PROPERTY
GOOD LUCK!
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