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Income tax on capital gain section 54

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 April 2013 A MAN SELLS A HOUSE FOR 50 LAKHS AND HE PURCHASES TWO HOUSES FOR 28 AND 25 LAKHS.
I WANT TO KNOW THAT IS IT COMPLETES SEC. 54 AND CAPITAL LOSS
OR HE CAN TAKES ONLY ONE HOUSE FOR SECTION 54.
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CA Vikas Acharya

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CA Vikas Acharya (Expert)
20 April 2013 only one house for section 54 is allowed, though there could be different units in a house, but even two houses in same building are not allowed.

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