Please Help: Capital gain exemption Sec54
Posted Date : 29-May-2017 , 03:34:23 pm | Posted By: Saurabh
Category :
Income Tax | Answers :
0|
Comments :
2| Hits: 325
|
i have sold back side portion of my self occupied house and out of sale proceeds i have contructed First floor on the same house.
Whether exemption u/s 54 will be allowed or not. |
|
|
|
|
Comments |
Posted By : Arpit Kumar |
01-Jun-2017, 11:53:22 |
yes it will be allowed
|
|
Posted By : Vikash Kumar Saini |
01-Jun-2017, 11:35:53 |
yes, as per sec 54 of income tax act if capital gain arising to individual on residential house property capital gain shall be exempt to the extend construction cost of house provided that construction must be completed within 3 years from the date of transfer of property. |
|
|
|
|