one of my client purchsed a property in the year 1999-2000 for rs 3,00,000 and has sold the same property in the year 2011-12 for rs 33,00,000, but in the year 2009-2010 he purchased a propety for rs 20,00,000 and construstion exp of rs 13,00,000 has been incurred by him in the year 2011-12, can he'll be entitled to deduction under section 54 i.r.o of rs 20,00,000 out of LTCG of rs 30,00,000 ( without indexation)?
CAclubindia
