Is an open site or an non agriculture (NA) land without any building be considered as residential house property for the purposes of availing exemptionof capital gains u/s 54?
please guide me friends..
thanks in anticipation..
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Is an open site or an na land is residential house propertyr
Replies (2)
No, sec 54 requires sale of house property ie. some building for availing exemption of capital gain...
an open site or non agricultural land is not considered to be a house property.
A place where an individual can dwell is a residential house property.
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