capital gains

hi pankaj, i owned a residential bunglow which i have sold last year and against that i have purchased a basement in residential premises. Whether the said transaction is permissible for exemption from capital gain?

asked Oct 03 '11 at 18:58 by champ 1122

If the newly purchased property is with residential status, it would be considered for tax benefit u/s 54.

But in case its a commercial space, it won't be.

answered Oct 04 '11 at 00:37 by pankaj 5.2k320


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Asked: Oct 03 '11 at 18:58

Seen: 932 times

Last updated: Oct 04 '11 at 00:37