Capital gains tax

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jay (Querist)
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25 September 2012 Hi,

1 of my client is an owner of 3 house properties in mumbai self occupied by him and during the FY 2011-12 he has sold 1 house property and bought another house property; the capital gains arising from sold houise property was fully invested in new house property. is he eligible to claim exemption from capital gains tax?
if yes under which section 54 or 54F or 54E or any other section.
can i get a link of the same??

Please sir whosoever can please answer my query as soon as possible; my client's return is awaiting its due befoe 30th september.

please sir eagerly awaiting your reply

Regards

Jay.
+919820311182

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 October 2012 He can claim exemption u/s 54.

Section 54F is applicable when a capital asset OTHER THAN residential house property is transferred.

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