https://www.taxtmi.com/forum/issue?id=107000 An individual reported long term capital gains and claimed capital gains exemption under section 54 on the basis that a residential house will be constructed within the statutory period. However, the land has been transferred to a builder under a joint development agreement in consideration of receiving a specified number of constructed flats, raising the question whether the section 54 exemption is available and how the construction within time condition is satisfied; the return for the relevant assessment year remains unfiled. en-us Tue, 08 Jul 2014 22:36:45 +0530 Thu, 23 Jan 2025 15:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=107000 An individual reported long term capital gains and claimed capital gains exemption under section 54 on the basis that a residential house will be constructed within the statutory period. However, the land has been transferred to a builder under a joint development agreement in consideration of receiving a specified number of constructed flats, raising the question whether the section 54 exemption is available and how the construction within time condition is satisfied; the return for the relevant assessment year remains unfiled. Discussion-Forum Income Tax Tue, 08 Jul 2014 22:36:45 +0530 https://www.taxtmi.com/forum/issue?id=107000