Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 July 2011 Sir,

One of the my friend sell land and pay the loan in his housing loan. Shall i claim as u/s 54 exemption

31 July 2011 No you cannot.

Section 54 is applicable only when you sell h HOUSE PROPERTY AND PURCHASE A NEW HOUSE PROPERTY.

In this case you have sold a land and not a House Property. So you cannot.

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 August 2011 Sir,

Shall i claim u/s 54 F


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