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Ltcg on sale of resientila flat

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 February 2014 Assessee owns 3 residential properties. ie A,B & C.
He sells A property which is more than 3 years old. ie LTCG.
He purchases another property D.
Whether he will get exemption u/s 54 for LTCG on sale of Property A?
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C.A. Mayur J. Raiyani

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C.A. Mayur J. Raiyani (Expert)
08 February 2014 Yes, there is no restriction in holding more than one property for availing benefit u/s 54

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