Exemption u/s 54

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 September 2013 The assessee owns two resedential houses and one of them is sold during the PY. Can a deduction be claimed u/s 54 if the sales prodceeds is invested in a new resedential house?

13 September 2013 Dear Sir,

Yes the assessee is eligible to claim the exemption u/s 54 the restriction of owning 1 residential house is u/s 54F and not under sec 54.

Thanks & regds
CA Jayant Bothra
email: ca.jayantbothra@gmail.com

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 September 2013 Thank you very much sir

14 September 2013 Agree with Expert,

You can claim exemption U/S 54..


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