Dear Collegues,
My client has purchased a New flat on 14-07-2016 and sold his old flat on 16-02-2018
That means he has purchased new prop first and old prop is sold later
can he take exemption under sec 54 in this scenario??
Vinay Jaindani (184 Points)
29 May 2018Dear Collegues,
My client has purchased a New flat on 14-07-2016 and sold his old flat on 16-02-2018
That means he has purchased new prop first and old prop is sold later
can he take exemption under sec 54 in this scenario??
CA Mayur Todmal
(Practicing CA)
(7645 Points)
Replied 29 May 2018
yes you can
as new prop. purchased within 1 yr before transfer of property
CA. Siva Nagaraju
(Practicing Chartered Accountant)
(560 Points)
Replied 29 May 2018
No. You can not take since it is earlier than one year.
You should have purchased the property during 16-02-2017 to 16-02-2018.
rama krishnan
(12234 Points)
Replied 30 May 2018
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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