Capital gain exemption on Property sale Section 54
3 years ago
I am currently living in a self-owned flat. I also booked new under construction flat in 2016 for which I am going to get possession in 2022. My plan is to sell existing property in 2022 and move to new property.
Query1 - Can I claim capital gain exemption under section 54 on my old Property sale as I am selling old flat and taking possession/registering new flat in same year (although I have booked it in 2016)?
Query2 - Which date is considered for capital gain exemption under section 54 allotment date or registry date?
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
1. As you will be taking possession of the property within a year of selling your current apartment, you will be entitled to the exemption.
2. The registration date will be considered.
1. As you will be taking possession of the property within a year of selling your current apartment, you will be entitled to the exemption.
2. The registration date will be considered.
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A.Hi,
1. As you will be taking possession of the property within a year of selling your current apartment, you will be entitled to the exemption.
2. The registration date will be considered.
1. As you will be taking possession of the property within a year of selling your current apartment, you will be entitled to the exemption.
2. The registration date will be considered.
Helpful
Helpful
Share
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