Section 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2012
one of the assessee is citizen of india and resident of india.
now he sold property situated in india on his name.
then he invested the said amount in purchase of new property outside india. now does he get benefit of section 54 ?
now he sold property situated in india on his name.
then he invested the said amount in purchase of new property outside india. now does he get benefit of section 54 ?
08 August 2012
Yes he is eligible for exemption.
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08 August 2012
if both the properties are residential properties, he can claim exemption u/s 54
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08 August 2012
Will get the benefit of section 54. Citation :- Prema P. Shah Vs. ITO 100 ITD 60 (Mum.)
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