Sec 54

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vignesh

vignesh (Querist)
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11 May 2010 Whether two house property can be purchased on a sale of one house property to claim exemption u/s. 54.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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11 May 2010 only purchase of a residential house allowed not two.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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11 May 2010 however this can be done

When more than one house is purchased - 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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Guest

Guest (Expert)

11 May 2010
Dear vinesh,

Please see this link.

https://www.caclubindia.com/forum/is-sec-54-deduction-allowed-for-2-houses-80254.asp

Regards
K.ilayaraja