I purchased a house from builder in new construction in december - 2010. At that time only agreement to sell was made and on that basis i took laon from bank. The Loan is disbursed upto 50% as the house is not constructed completely yet.
I have one other house which i have to sale now. The bank will disburse the loan completely in April-2012 and the sale deed will be made than.
In this case can is get deduction under section 54 of new house purchased before one year of sale?
Which date is considered while considering the one year before the sale U/s 54/ Whether it is the agreement to sale date or date of sale deed? The section speaks nothing clear about it.
I have one other house which i have to sale now. The bank will disburse the loan completely in April-2012 and the sale deed will be made than.
In this case can is get deduction under section 54 of new house purchased before one year of sale?
Which date is considered while considering the one year before the sale U/s 54/ Whether it is the agreement to sale date or date of sale deed? The section speaks nothing clear about it.