Capital gain exemption u/s 54 on farm house
This query is : Resolved
18 April 2019
Can capital gain exemption u/s 54 be availed on farm house. does the definition of residential house property includes farm house???
Thanks in advance
Thanks in advance
Amol S Joglekar
(Expert)
19 April 2019
yes. Exemption can be availed on farm house
16 June 2019
Any citations for such. If any pls provide. As I am unable to find any.
Amol S Joglekar
(Expert)
17 June 2019
Citation as such not required. Farm house is for residential purpose. Right?
Amol S Joglekar
(Expert)
17 June 2019
then no need to go for citations. Your use of farm house is for residential purpose which is sufficient to get the exemption u/s 54
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