Exemption u/s 54


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
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

Avatar

Querist : Anonymous

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

14 September 2013 Agree with Expert,

You can claim 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



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details