Please Help: income tax

Posted Date : 22-Jul-2011 , 04:38:51 pm | Posted By MEENABAHL

for Exemption u/s 54, amt spent on new house immediately after purchase, i.e. in the same F.Yr.to make it liveable can be added in the cost of new house property ?

Category : Income Tax | Answers : 2 | Comments : 2 | Hits : 443

Answers

Answer By: CA Rajnish

Surely u can add the further construction cost into this property for claiming exemption u/s 54 on capital gains from transfer of residential house property.

Answer By: CA. Sachin Data

Yes it can be....