Capital Gain

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Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2011 If asseessee has 2 residentual house and both residentual house sold out and such asseessee can claim exemption under sec 54 of Capital Gain?

CA Pradeep Kumar Rajput

CA Pradeep Kumar Rajput (Expert)

01 February 2011 Yes you can claim the exemption .............

if sale procced is not utillsed Deposit the same in Capital Gain Account

Provide more facts for more clearity

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2011 one house gifted from mother and another house gifted from father and now both houses are used for residential purpose, if both houses sold then asseessee can claim exemption under sec 54 of capital gain?

Guest

Guest (Expert)

01 February 2011 Yes, you can avail exemption u/s 54.

Guest

Guest (Expert)

01 February 2011 for both the houses

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2011 what the procedure for that claim?

CA. Lohith Jagadeesh

CA. Lohith Jagadeesh (Expert)

05 February 2011 Hi,
Yes u can Claim the deduction under Section 54.
As Section 54 says that to claim the benefit there should a sale of residential House property.

i does not mention aboub the no of H/Ps

Give me some Facts will be ina better position to explain.

Thanks

Regards
CA.Lohith. J
B.Com,ACA,CS,(ICWA), ITF Hons, SAPM Hons

CA Pradeep Kumar Rajput

CA Pradeep Kumar Rajput (Expert)

05 February 2011 Dear sir
apart from opening the capital gain account in a bank and depositing the money there is no other procedure...
you have to fellow the condition for that.....

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