Exemption u/s 54

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29 December 2012 Hello Sir, Client of our firm has puchased two houses so my qus. is that is exemption u/s 54 is allowed for purchase of more than one house as language of this section state that purchase of "a residential house" Thanx in advance

29 December 2012 Please follow the below link for the ans:-

https://www.caclubindia.com/experts/exemption-for-two-houses-u-s-54-299915.asp

29 December 2012 yes Tripti, Exemption is not limited to acquisition of one house. For instance a tax payer may purchase of two houses, or he can purchase a house and construct first floor of the house so purchased or a person can construct two or more houses etc. Similarly a tax payer may sell two houses and may purchase one house for the purpose of availing exemption u/s 54.


29 December 2012 Thanks Astaf .........Good Explanation...........



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