Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2015 whether assesse can get exemption u/s 54 if he already owns more than 1 residential house property other than new purchased?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 August 2015 For claiming exemption U/s 54, there is no condition as regards the number of houses held/owned by the assesee. He can claim exemption U/s 54 even if he holds more than one residential house. However for claiming exemption U/s 54F , the assessee should not own more than one residential house other than the new asset.