Capital gain exemption u/s 54
This query is : Open
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.?
14 July 2018
Yes, Assessee can claim sec 54 and 54F exemption simultaneously.
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15 July 2018
Thank You Sir, for your valuable suggestion.
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