30 April 2012
hi, I have sold a commercial property and consideration is invested partly in purchase of plot of land & partly in house property. can i claim deduction u/s 54F in respect of both properties? pls ans the query at the earliest.
30 April 2012
54F has OR condition embedded...... constructed or purchased.... So you can avail any one of the 2. (Plurality is accepted by many courts in sec 54 BUT not in sec 54F)
CAclubindia
