Exemption U/S 54

This query is : Resolved

Guest

Guest (Querist)

29 January 2010 Dear Sir,

In case assessee purchases more than one residential house, than may he claim exemption for all the residential houses purchased u/s 54 or exemption is available only in respect of one residential house.

Thanks.

Yours Truly,
Kunal Agrawal

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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30 January 2010 exemption can be claimed only against one house property

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 January 2010 In case the assessee has purchased more than one house/flat within the period prescribed in section 54, it is for the assessee to claim relief against the purchase of any one of the house/flat provided the other conditions mentioned in the section are satisfied.

K.C. Kaushik v. P.B. Rane, ITO [1990] 84 CTR (Bom.) 62

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