Exemption u/s 54
This query is : Resolved
Sweta Kaseruwala
(Querist)
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.
Sweta Kaseruwala
(Querist)
17 June 2014
but there is no clear wording in Sec.54, is there any case law on the same?
Sweta Kaseruwala
(Querist)
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.
Sweta Kaseruwala
(Querist)
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.
Sweta Kaseruwala
(Querist)
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.
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Non filing of I T Returns
- TDS on Fixed Assets purchased
- SALARY CAN BE CAPITALIZE
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
