Exemption u/s 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2012
sir can you tell me about exemption u/s 54, if sold property is residential plot and purchased property is redidential house. can we claim residential plot in place of residential house property.
Amol S Joglekar
(Expert)
05 August 2012
No not really. For 54 you need to have capital asset as residential house. For other than residential house property, you need to go by 54F or other relevant sections.
Message likes :
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SANYAM ARORA
(Expert)
05 August 2012
Agreed with the reply
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