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Section 54/54f

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(Querist)
02 August 2011 Can exemption u/s 54 or 54F allowed if house property is purchased out of India?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
02 August 2011 Yes. Pl read the decision in http://www.bcasonline.org/ContentType/Contentin.asp?1382
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Amita Thosar

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Amita Thosar (Querist)
02 August 2011 Dear Sir

Thanks for quick reply

Can the property sold in India be a NA Plot?

Does the assessee need to deposit the money to in NRO a/c to remit abroad?

For remittance he needs certificate in Form 15CB .Can the CA give certificate as no tax is deductible as Exemption is available?
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DR GAURAV GUPTA FCA, FCS, LL.B

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DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
02 August 2011 yes section does not say that property should be purchased in india

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