Exemption u/s 54
This query is : Resolved
17 June 2014
Is there any restriction in section 54 for claiming exemption if the assessee holds more than one house(except new house) on the date of transfer
17 June 2014
yes assessee should not own more then 1 house on the date of transfer else no deduction is allowed u/s 54.
17 June 2014
but there is no clear wording in Sec.54, is there any case law on the same?
17 June 2014
but there is no clear wording in Sec.54, is there any case law on the same?
17 June 2014
sorry i referred as 54F, in this case it will not make any diff if he owns more then 1 house on date of transfer.
17 June 2014
is there any case law/rules on it
17 June 2014
its clear in sec 54 as there is no condition that assessee must not own more then 2 house on date of transfer.
17 June 2014
ya ur right, but i want to give written expl. in the off, so i want it in written, can u help me?
17 June 2014
but u quothe bare provision and it will serve your purpose i didnt find any case law on this.
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