Sell two houses for one house and still get exemption
This query is : Resolved
06 February 2019
The Assessee has sold two houses in an AY and bought one house with the money received. Will he get exemption from capital gain from both the houses
Amol S Joglekar
(Expert)
07 February 2019
Assuming both the houses are "residential houses"...... yes, the assessee can claim the exemption from both the houses
08 February 2019
Hi, thank you so much for your prompt response. Could you please provide with relevant Section/Rule in the Income Tax Act or relevant Judgement of a court case clarifying the same ?
Amol S Joglekar
(Expert)
08 February 2019
section 54 of income tax act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
