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Exemption under section 54

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(Querist)
14 January 2011 Dear Sir

I have purchase a residential house in 2005.In Jan 2011 i want to purchase another residential house and in may 2011 i want to sell the house which i purchased in 2005.Will i will get a exemption under section 54
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Guest (Expert)
14 January 2011 Yes, you will get a exemption under section 54
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
14 January 2011 definalty as per the rules you can purchase it in 2 year of sale of one residentialhouse
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