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  1. Navneet Aggarwal

    Navneet Aggarwal New Member

    Purchased the house in April 2015 (Paid token on 20/3 and allotment letter is dated 17/04/15), Paid First installment in May 15 and remaining two installments to be paid in next 2 years.Total 3 year payment scheme is there)

    Sold another pre owned Residential House in April 2016 (Sale Deed Registered on 28th April 2016 but received First Installment of sale proceeds on 20th april 2016 )

    The gain from the house sold is less than the house purchased.

    My Question
    1)Is my transaction qualifies for section 54 where i can buy residential property before 1 year of sale of another residential property.
    2)This residential property bought is a under construction residential property under 3 year payment scheme of 20/40/40 where 20% is already paid , 40% is on superstructure which is yet to be paid as superstructure is not ready and rest 40% on possession.
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