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Sec 54f
There isCondition of not owning more than 1 House Property on date of Transfer. . . whether i should not own 1 House Property in India or my Property abroad will also be counted . .e.g i have 1 HP in India at present and 1 HP in Australia. . now if i sell capital asset and purchase HP in India . . .whether i will get exemption under sec 54F ?
Replies (2)
You can own only 1 residential house in India or abroad at the time of making investment in new residential house in India.
In your example, exemption will not be available because you already own more than 1 house.
In your example, exemption will not be available because you already own more than 1 house.
Yes agreed with Shivam.
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