Dear Sir/ Madam,
I need your views on this example.
Under construction flat registration date from builder = 17 dec 2021 and posession date = 28 Dec 2023 for cost price = 1.5Cr.
Claimed section 54F in ITR2 for FY22-23 as Mutual funds were sold and amount paid to the builder as a part of construction linked plan.
Now for FY 23-24, the last installment paid to builder was on 26 Oct 23 and 10 Dec 23 as per AIS = 33L. The mutual funds were redeemed on 5 Jun 23, 5 Sep23, 5 Dec 23, 5 Mar 24. Hence, Amount of deduction claimed = 1.60L
Need to claim Sec 54F benefit for FY 23-24 as the amount is paid to builder as last installment.
- What date to put in "Date of purchase/construction of new residential house". If we put Dec 2021, then we breach the rule of "Purchased: either 1 year before or 2 years after the sale of asset Or Constructed: within 3 years of sale of old asset"
- What date to put in "Cost of new residential house" - 33L (as per AIS for this year) or 1.5Cr.
Thanks in advance.