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House property section 54

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 October 2015 I purchased a flat in may 2005 and sold it in oct 2013. And hence re invested the sale proceeds to buy a residential flat in dec 2013.
But in 2011, I got a apartment under a will from my father after his demise.
So do i qualify for section 54 exemption from one residential property to another.

and then I have not shown the details of sale and re investment in my tax returns.
But now do i need to show it or is it so since I'm owning more than 1 property at the time of sale- exemption cant be obtained?

please guide me here.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
04 October 2015 section 54 has no limit on number of houses under possession. that limit is under section 54F

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