Capital gain exemption u/s 54
This query is : Open
Manu Aggarwal
(Querist)
14 July 2018
Hello All. I have a query related to capital gain exemption. An assessee sold a residential house (long term) on 25/04/17 for Rs 30 lacs. On 12/05/2017 he also sold a plot (long term) for Rs 40 lacs. On 21/05/2017 he purchased a residential house amounted to Rs 70 lacs. As On 21/05/2017 he have no house in his own name. Can Assessee claim sec 54 and 54F exemption simultaneously if he fulfils the condition of both the sections.?
CA R SEETHARAMAN
(Expert)
14 July 2018
Yes, Assessee can claim sec 54 and 54F exemption simultaneously.
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Manu Aggarwal
(Querist)
15 July 2018
Thank You Sir, for your valuable suggestion.
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