ARPIT (student) (62 Points)
08 September 2012can i claim exemption under section 54f
I have sold an agriculture land and now i want to purchase a residential house.
on the date of transfer i own a residential house (100% share) and a small portion (about 5-10%) in another residential house... so pleasee let me know wheather i can claim exemption under section 54F or not...
Ankush sharma
(Auditor Article Assistant)
(816 Points)
Replied 08 September 2012
NO.... you cannot claim proportionate exemption u/s54f as you are already owner / co-owner of 2 houses (% in ownership is ignored)
correct me if wrong
CAclubindia
