bhushan dronkar (48 Points)
23 July 2019I sold house property in march 19 and has LTCG on it of rs. 337480.
My query is that
whether i get deduction under section 54,if i purchase a plot of land for the purpose of construction of new house property before 31st july 2019.Does this purchase cost of land considered as cost of construction.
kailasha
(Student)
(37 Points)
Replied 23 July 2019
When an individual sells a residential property and buys another residential property, he will be eligible for exemption under Section 54.
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 23 July 2019
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