Capital gains exemption

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Rachit (Querist)
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15 July 2013 Can an individual claim benefit of sec. 54 on purchase of 2-residential house property at different locations out of capital gains from sale of 1- house

Anil Sankar V

Anil Sankar V (Expert)
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15 July 2013 not possible.

Rachit

Rachit (Querist)
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15 July 2013 Other views solicited

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Anil Sankar V

Anil Sankar V (Expert)
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15 July 2013 exemption to the extent -for 1st house will be available for the purpose of capital gain computation,

Rachit

Rachit (Querist)
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15 July 2013 http://taxguru.in/income-tax/deduction-5454f-dallowable-purchase-multiple-independent-house-units.html

Anil Sankar V

Anil Sankar V (Expert)
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15 July 2013 if it is passed, any state AP high court...it will restricted to that state. if it is passed in Supreme court then willbe allowed pan india.