capital gain on sale of plot where installments were paid during number of years

capital gain on sale of plot where installments were paid during number of years https://www.taxtmi.com/forum/issue?id=1892 Sale of an old plot in 2009 generated long term capital gains; taxpayer had earlier booked and paid for a flat in 2008 and purchased a new plot in December 2009. Key operative question is whether the earlier allotted flat constitutes a second house (affecting eligibility) and whether it or the new plot qualifies as the replacement asset for relief under section 54F, noting potential timing issues between allotment, payment, possession, and the one year rule. en-us Wed, 21 Apr 2010 10:39:09 +0530 Thu, 23 Jan 2025 15:58:36 +0530 TaxTMI RSS Generator capital gain on sale of plot where installments were paid during number of years https://www.taxtmi.com/forum/issue?id=1892 Sale of an old plot in 2009 generated long term capital gains; taxpayer had earlier booked and paid for a flat in 2008 and purchased a new plot in December 2009. Key operative question is whether the earlier allotted flat constitutes a second house (affecting eligibility) and whether it or the new plot qualifies as the replacement asset for relief under section 54F, noting potential timing issues between allotment, payment, possession, and the one year rule. Discussion-Forum Income Tax Wed, 21 Apr 2010 10:39:09 +0530 https://www.taxtmi.com/forum/issue?id=1892