21 August 2010
I PURCHASE COMMERCIAL PROPERTY 2001 NOW I AM SALE OF COMMERCIAL PROPERTY ICAN PURCHASE RESIDENTIAL PROP.I ALREADY OWN RESIDENTIAL PROP.I READ U\S 54F.QUIT CONFUSION.
21 August 2010
At the time of selling of the commercial premises the assessee must not posses more than one house property. Since there is only one house property at the time of sale of property exemption u/s 54F is allowable.
CAclubindia
