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income from sale of residential house property

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 February 2011 I intend to sell two residential house properties in Delhi and invest the total proceeds in buying a single residential house property at Mumbai, would i be eligible for rebate under SECTION 54 of Income Tax Act on the total consideration?
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Ratan Sharma

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Ratan Sharma (Expert)
02 February 2011 Yes you will be eligible for deduction u/s. 54
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Guest

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Guest (Expert)
02 February 2011 Agree with Mr. Sharma
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