Deduction U/s 54F

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Anushree (Querist)
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13 July 2011 Q1. Can assessee claim deduction 'U/s 54F Investment in House Property' for more than 1 House Property situated in different cities??

Q2. If for purchasing House Property assessee has taken Housing Loan Then can Loan amount be considered for Deduction U/s 54F??

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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13 July 2011 The assessee can purchase only one house anywhere for claiming exemption U/s 54F.

Exemption U/s 54F is available on the basis of cost of house purchased & not on the basis of sources of investment.

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