Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 September 2011
u/s 54 of the income tax act capital gain on sale of house property use for residence is exempt if assessee has purchse residential house within 1 years or constructed house within three years and cost of constructoin of purchase house more than or equal to capital gain.
Is this exemption is applicable even if asseessee has many registeration house property ?
Is this exemption is applicable even if asseessee has many registeration house property ?
19 September 2011
Yes Exemption under section 54 is available irrespective of the fact that the assessee holds more than one house in his name...
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