Capital gain exemption

Tax queries 494 views 2 replies

can 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...

 

Replies (2)

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

Thnks for the answer....


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