Exemption -sec 54 capital gain on trf of house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 August 2013
As per section 54 , individual can purchase a house with 2 year and the capital gain will be exempted as per the investment ratio to capital gain.
But i want to know that if a house purchase outside India then it will be allowed as exemption.
But i want to know that if a house purchase outside India then it will be allowed as exemption.
CMA Ramesh Krishnan
(Expert)
31 August 2013
Property can be either in India or outside India. please refer the citation: Prema P vs ITO (2006)TTJ (MUM)
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