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.
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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