Deduction u/s 54

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 February 2016 An assessee had sold a shop & a house in AY 2013-14. The gain on sale of the assests was LTCG.

He invested 3 houses out of the proceeds of the same.

in one house before sale of house and 2 houses after the sale.

Can he claim deduction u/s 54 for three houses??
Shop was not used for business purpose..

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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11 February 2016 He will get exemption of capital gains on sale of house u/s 54 and exemption of capital gains on sale of shop u/s 54F after satisfying all the conditions specified therein.

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