Dear friends,
A has purchased Land on 03/03/2012 and construction is over on Sep 2012 and occupied the house in Oct 2012.
He paid the money from his own funds in instalments for building first amount was given in March 2012 and the final
payment made in Oct 2012. ( New)
1) He wants to sell his house ( old) house and claim exemption under long term capital gain and he purchased
15 years back.
2) Whether he should have sold before 3rd March 2013, or he can sell upto Sep 2013 ?
3) One year period is purchase of land or for construction?
Kindly clairfy.
Thanks
G.Veerabudran