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Exemption u/s 54 & 54F

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(Querist)
02 February 2011 Dear Sir,
Whether investment in a house property in a foreign country is eligible for exemption u/s 54 or 54F
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Nikhil Kothari

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Nikhil Kothari (Expert)
04 February 2011 I think its not eligible but wait for others reply...
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CA. vijay kr. sharma

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CA. vijay kr. sharma (Expert)
05 February 2011 legisilation us54 of income tax used of purchase, construction of house properity one year before and 2 year after and for construction 3 year.that may be in india or outside india. but no deduction shall be allowed u/s 54f as the term used specifically define that house properity must be in india only.
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