Sec 54

This query is : Resolved

Akshay Jagatia (Querist)
Follow

05 November 2014 Facts of d case: Assessee currently owning 4 residential house properties...Wants to sell 1 HP & buy another HP...whether exemption u/s 54 allowed?.. m jst not getting d intention of law behind d words of this section - ONE HOUSE PROPERTY IN INDIA....

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

05 November 2014 exemption under section 54 is allowed.

One house property was inserted to disallow investment in multiple house properties to claim exemption.

so you cannot invest, lets say, in two flats..only one house can be bought..