Easy Office
LCI Learning

Section 54

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 March 2018 A person has purchase a residential property in year 2012 then after he purchased another residential house with its jointholders in 2015 and then after he sale the first residential property in 2016 on which LTCG arise

so in that case we can take deduction under section 54 of income tax.
Profile Image

K Srinivas, CMA CS

Profile Image

K Srinivas, CMA CS (Expert)
29 March 2018 eligible for deduction if the assessee's investment in the new property exceeds the Capital gains from the earlier asset
Profile Image

aman

Profile Image

aman (Querist)
30 March 2018 Is deduction is also available in case of newly property purchased jointly?
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
31 October 2021 Yes, eligible for deduction.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links