05 April 2014
you can claim the exemption u/s 54F only if you are not the owner of not more than 1 house property at the time of purchase of another House property. Also the exemption is available only in respect of 1 flat. But it depends upon case to case basis. If 2 adjacent flats are purchased then it should be considered as one flat. But at times the AO is not ready to consider the same.
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