Deduction u/s 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 February 2016
An assessee had sold a shop & a house in AY 2013-14. The gain on sale of the assests was LTCG.
He invested 3 houses out of the proceeds of the same.
in one house before sale of house and 2 houses after the sale.
Can he claim deduction u/s 54 for three houses??
Shop was not used for business purpose..
He invested 3 houses out of the proceeds of the same.
in one house before sale of house and 2 houses after the sale.
Can he claim deduction u/s 54 for three houses??
Shop was not used for business purpose..
11 February 2016
He will get exemption of capital gains on sale of house u/s 54 and exemption of capital gains on sale of shop u/s 54F after satisfying all the conditions specified therein.
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