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Section 54f

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29 June 2013 Can we claim deduction under sec 54F by investing in two house properties and the client does not have any other house property till now.
i.e. client wants exemption on capital gains u/s 54F by investing in two houses is it possible to claim exemption of capital gain u/s 54F by purchasing 2 house property and assessee does not own any house property on the date of capital gain

29 June 2013 Reinvestment in multiple flats is allowed.
Citation:- CIT. Vs. Raman Kumar Suri (2013) Taxman 411 (Bom).

Reinvestment in multiple flats at different places will not be allowed.
Citation:- I.T.O. Vs Ms.Sushila M.Jhaveri (2007) 292 ITR 1 (Mum).



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