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Exemption -sec 54 capital gain on trf of house property

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2013 As per section 54 , individual can purchase a house with 2 year and the capital gain will be exempted as per the investment ratio to capital gain.


But i want to know that if a house purchase outside India then it will be allowed as exemption.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
31 August 2013 Property can be either in India or outside India. please refer the citation: Prema P vs ITO (2006)TTJ (MUM)

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