Capital gain excemption54e

M.Anbu chezhian (Querist) 26 February 2015 This query is : Resolved

I got a capital gain fromselling of my ancestral house property .
that gain was invested in the house property purchase with buiders but the builders handed over the propertyafter 4 years,they give the sale deed and the amount was invested as advance with the builders. Now can i got the exemption under sec54E and give any citation in this regard

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R.K Nanda (Expert) 26 February 2015
consult tax lawyer.

Anirudh (Expert) 26 February 2015
Pl. indicate the relevant dates like
(i) when did you sell the ancestral property;
(ii) when did you book the new house;
(iii) whether you paid the entire amount of capital gain in booking the new house and when did you pay it?

Guest (Expert) 26 February 2015
Consult the CA Club of this Forum for Replies from Professionals of the Field.

Rajendra K Goyal (Expert) 26 February 2015
Consult local tax consultant and show him all the documents.

Anirudh (Expert) 28 February 2015
Dear Mr. Chezhian,
I have seen your private message to me and noted the contents.
If in Jan 2007 you have invested the entire amount of capital gain (i.e. sale proceeds minus indexed cost of acquisition) then you will go without capital gains tax.

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