Sec 54 F - Capital gains on transfer of a long term capital asset- can be claimed as exemption if a residential house is purchased or constructed with in the time limit--- the assessee has purchased the new house outside India, will he be able to get the exemption? Thanks you in anticipation for partipating in the discussion- please refrer to Direct tax laws by Dr. Vinod. K Singhania, (Page 535),(Para- 183.1-3)before answering----- how can an exemption be given if the purchase is made in a country outside india-----?
Sec 54 F - purchase or Residential house outside India
karthikeyan.v (Chartered Accountant) (523 Points)
19 February 2010
CAclubindia
