Exemption u/s 54
This query is : Resolved
21 December 2011
an assessee having two house property as on the date of transfer.out of them, he is selling one of them and purchasing two more residential flats.can he claim exemption u/s 54 ??
21 December 2011
you can claim exemption for both the flats
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22 December 2011
@ Dileep Ji
Exemption can be claimed for any number of houses. There are plenty of case on this issue.
latest case:
CIT vs K.G. Rukminiamma (Karnataka High Court)
Exemption can be claimed for any number of houses. There are plenty of case on this issue.
latest case:
CIT vs K.G. Rukminiamma (Karnataka High Court)
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