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Capital Gains Sec-54, Income Tax

Issue Id: - 110124
Dated: 1-4-2016
By:- gowrav potluri

Capital Gains Sec-54


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Is any relief is provided to Assessee regarding time limit specified in sec54 for purchase of residential house property with in 2 years of sale of old property. Agreement to sale is made within 2years but sale deed is made on later . Can assessee claim exemption regarding this?

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1 Dated: 1-4-2016
By:- Ganeshan Kalyani

You can invest the proceeds into Capital Gain Deposit Accounts Scheme as per section 54 in order to get exemption in income tax. Thanks.


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