exemption u/s 54
This query is : Resolved
05 May 2011
Dear sirs,
assessee tranfers residential house and purchase another residential house within 6 months. But he has two other residential houses at the time of transfer & purchase of new one . Can he claim exemption u/s 54. please help me
assessee tranfers residential house and purchase another residential house within 6 months. But he has two other residential houses at the time of transfer & purchase of new one . Can he claim exemption u/s 54. please help me
05 May 2011
There is no such restriction to claim exemtion u/s 54. capital gain must be invested to accquire the Resdential property within prescrebed period.
05 May 2011
Yes you can claim exemption u/s 54. this restriction is applicable for 54F only.
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