Exemption under capital gain
This query is : Resolved
02 October 2011
Suppose individual assessee having 3 houses. Out of one is self occupied residential prosperity and rest of two are letting out property. Assessee individual wants to sell the one of the let out property. Can he claim exemption u/s 54F for purchase of new house? please advise.
03 October 2011
No, to claim exemption u/s 54f, assessee should possess only one residential house property in his name at the time of selling any residential property.
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