Exemption u/s 54
This query is : Resolved
29 December 2012
Hello Sir, Client of our firm has puchased two houses so my qus. is that is exemption u/s 54 is allowed for purchase of more than one house as language of this section state that purchase of "a residential house" Thanx in advance
29 December 2012
Please follow the below link for the ans:-
https://www.caclubindia.com/experts/exemption-for-two-houses-u-s-54-299915.asp
https://www.caclubindia.com/experts/exemption-for-two-houses-u-s-54-299915.asp
29 December 2012
yes Tripti, Exemption is not limited to acquisition of one house. For instance a tax payer may purchase of two houses, or he can purchase a house and construct first floor of the house so purchased or a person can construct two or more houses etc. Similarly a tax payer may sell two houses and may purchase one house for the purpose of availing exemption u/s 54.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Bank details not Visible on Traces Portal
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
