Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2013 ONE PLOT AND ONE HOUSE SOLD IN 2010
MARCH AND AMOUNT DEPOSITED IN CAPITAL GAIN ACCOUNT ON 29-07-2010 AND SUSEQUENT PURCHASE HOUSE IN JAN 2011 OUT OF CAPITAL GAIN ACCOUNT AMOUNT

CAN ONE PURCHASE ONE HOUSE AFTER SELLING 2 PROPERTIES
IN WHAT SEC 54/54F WE CLAIN EXEMPTION OF CAPITAL GAIN ACCOUNT OR PURCHASE OF HOUSE

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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16 January 2013 Yes as after selling your house you do not have any house and as you have deposited the entire amount in Capital Gain account you are eligible for exemption.