Under Sections 54 and 54F the investment in new residential propert is to be made within 1 year before and 2 years after the sale in the case of purchase or within 3 years after in the case of construction. My query is - in the case of a flat under construction can investment be made before 1 year of sale and completion of construction be after 3 years of sale?
1 Replies
Nirukt Sharma
(Student)
(133 Points)
Replied 27 March 2014
*Correction*
Investment made 1 year prior to the sale of asset is only allowed in case of Purchase of house property and not construction.
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