I have a joint ownership for a residential land plot with my sibling. We haven't constructed any house there. We are not planning to contruct any house there in next 3-4 years. We purchased this property in September 2023. This was purchased without any section 54F claim.
Currently I am planning to buy new residential plot/house with my capital gain. If I buy land plot, I will immediately start construction of house. Can I claim section 54F benefit for new property? Will it create any problem since I already have a residential plot?
CAclubindia
