Commercial property sales gains covered u/s 54 or 54f
This query is : Resolved
07 March 2016
Dear Sir
I Own a Commercial House Property and I Received Rents from Shops and Office in my Commercial Property now I want to Sale this property and I want to utilise the Gains for Purchase of Residential House (FLAT in Apartment) is this okay or not please tell. This Gains is Covered U/s 54 or 54F please Explain.
Thanks in Advance.
I Own a Commercial House Property and I Received Rents from Shops and Office in my Commercial Property now I want to Sale this property and I want to utilise the Gains for Purchase of Residential House (FLAT in Apartment) is this okay or not please tell. This Gains is Covered U/s 54 or 54F please Explain.
Thanks in Advance.
08 March 2016
Yes you can claim exemption u/s 54F provided all other conditions mentioned in section 54F are fulfilled.
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