capital gain sec 54
This query is : Resolved
30 April 2010
Whether for claiming exemption u/s 54 , an assessee can purchase two or more residential houses.
30 April 2010
no, it should be one only
30 April 2010
When more than one house is purchased - In case the assessee has purchased more than one house/flat within the period prescribed in section 54, it is for the assessee to claim relief against the purchase of any one of the house/flat provided the other conditions mentioned in the section are satisfied - K.C. Kaushik v. P.B. Rane, ITO [1990] 84 CTR (Bom.) 62.
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