Capital gain exemption u/s 54 on farm house
This query is : Resolved
18 April 2019
Can capital gain exemption u/s 54 be availed on farm house. does the definition of residential house property includes farm house???
Thanks in advance
Thanks in advance
19 April 2019
yes. Exemption can be availed on farm house
16 June 2019
Any citations for such. If any pls provide. As I am unable to find any.
17 June 2019
Citation as such not required. Farm house is for residential purpose. Right?
17 June 2019
then no need to go for citations. Your use of farm house is for residential purpose which is sufficient to get the exemption u/s 54
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