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Section 54F

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 January 2011 Sir,

Can we avail the exemption u/s 54F of Income Tax Act,1961 if we own more than one residential house at the time of availing such exemption.

Thanks in Advance
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CA Vinay Gandhi

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CA Vinay Gandhi (Expert)
29 January 2011 No, For availing exemption u/s 54F the assessee must own only 1(one) residential house other than what he/she wants to build/purchase.
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Guest

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Guest (Expert)
29 January 2011 Agree with Mr. Gandhi




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