54F - Co-Owner
This query is : Resolved
30 January 2010
A sells a plot of land and wants to invests the proceeds in a Res. house.....A also owns a Res. House with C (co-owner) and owns another house as a co-owner with B......Can exemption u/s 54F be claimed or will it be allowed????
Sec 54F says that the assessee should not more than one Res. house......
My doubt is A owns two Res. House as a co-owner which combines together to form as One Res.house .
Sec 54F says that the assessee should not more than one Res. house......
My doubt is A owns two Res. House as a co-owner which combines together to form as One Res.house .
30 January 2010
please see this case law
Income Tax Officer vs. Sasiklal N. Satra [2006] 280 ITR (A.T.) 0243 (Mum) / (2006)-98-ITD-335(Mum)
Income Tax Officer vs. Sasiklal N. Satra [2006] 280 ITR (A.T.) 0243 (Mum) / (2006)-98-ITD-335(Mum)
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