nagaraja (Accountant) (36 Points)
09 September 2017Hi, I am having doubt in claiming exemption under section 54F. Kindly clarify.
I am having two property, one is residential and another one is plot bought in 2003. Now I am selling my plot and I will buy the another plot within 2 years. Now can i claim the benefit of section 54F.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178001 Points)
Replied 09 September 2017
Exemption u/s. 54F is available only if you purchase or construct a house property within stipulated time period, but not over any plot purchase.....
nagaraja
(Accountant)
(36 Points)
Replied 09 September 2017
Thank you very much for your reply. If I purchase of a house property with in the stipulated time, then I will be having two properties in my hand can I still cliam the exemption.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178001 Points)
Replied 09 September 2017
Yes........ the condition is while purchasing any new house property for exemption u/s. 54F, you should not have more than one house property....
rama krishnan
(12239 Points)
Replied 09 September 2017
CA Tara Singh
(16 Points)
Replied 10 September 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178001 Points)
Replied 10 September 2017
@ CA Tara Singh : Yes, You are correct...... I stand retified to that aspect, in the query
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178001 Points)
Replied 10 September 2017
I too Thank You for the clarification.....
CAclubindia
