Sec 54F and 54 Exemption

This query is : Resolved

sarath (Querist)
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27 November 2019 Whether properties situated outside india need to be clubbed for 2 properties limit as given under sec 54 and 54F,?
Can anyone share case laws?

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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29 May 2020 Section 54 and 54F are mutually exclusive and cannot be used at the same time, due to the nature of assets covered under these sections. So, either Section 54 exemption will be available or exemption under Section 54F will be available, depending on the nature of the long-term asset sold.