SEC-54F........QUERY

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  1. krishnasach

    krishnasach New Member

    Under sec-54 F, u explained sale of any asset other than house property , capital gain income can be utilized for new residential house purchase or construction of property.

    →this construction of property can also be reconstruction of current residential if we demolish entire building and reconstruct new property on same land. can capital gain income can be reinvested for construction of old demolished house.
     
  2. krishnasach

    krishnasach New Member

    Pls. reply....
     
  3. Dear Krishnasache,

    I think the exemption can be availed on the said way.
    No matter the construction is on the new land or on the same land.
    But it should be complete construction i.e. from starting as you are constructing a new house.

    THANK YOU.
     
  4. krishnasach

    krishnasach New Member

    Thanks Mr. Deepak
     
    Deepak kumar lakhi likes this.
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