Capital gain exemption u/s 54
This query is : Resolved
25 November 2014
Sir/Madam,
Whether i can claim exemption under Section 54 for re investment in two residential units purchased at different cities.
One Flat Sold for 1 Crore
against which,
One Flat Purchased in Mumbai for 50 Lacs
One Flat Purchased in Bangaluru for 50 Lacs
Can i claim the exemption on both units purchased.
Whether i can claim exemption under Section 54 for re investment in two residential units purchased at different cities.
One Flat Sold for 1 Crore
against which,
One Flat Purchased in Mumbai for 50 Lacs
One Flat Purchased in Bangaluru for 50 Lacs
Can i claim the exemption on both units purchased.
25 November 2014
Budget 2014 has introduced an amendment to Section 54 and from Financial Year 2014-15 i.e. Assessment Year 2015-16, exemption under Section 54 is available if the amount is re-invested in 1 Residential House situated in India.
25 November 2014
u/s 54 exemption only for one residential house not for two house.
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