Exemption u/s 54

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2013 The assessee owns two resedential houses and one of them is sold during the PY. Can a deduction be claimed u/s 54 if the sales prodceeds is invested in a new resedential house?

Jayant Bothra

Jayant Bothra (Expert)
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13 September 2013 Dear Sir,

Yes the assessee is eligible to claim the exemption u/s 54 the restriction of owning 1 residential house is u/s 54F and not under sec 54.

Thanks & regds
CA Jayant Bothra
email: ca.jayantbothra@gmail.com

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2013 Thank you very much sir

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