Tax on Sale of Open Plot

Share
Share This Thread
  1. ishwar s yanni

    ishwar s yanni New Member

    dear sir,

    if the open plot is sold after it is holding for more than 36 months, whether the sale proceeds can be used for purchase of new open plot & claim exemption u/s 54 of the Income tax act.
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    Purchase of Open Plot wont be considered as a residential house and therefore exemption cannot be claimed
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
TDS on Sale of Property paid twice Income Tax Aug 24, 2018
UNLISTED SHARES SALE - CAPITAL LOSS Income Tax Aug 6, 2018
TDS on Sale of Propert, when there are more than one buyer... Income Tax Aug 2, 2018
Capital Gain on Sale of Foreign Shares Income Tax Jul 22, 2018
Income Tax on sale of a house Income Tax Jul 17, 2018